Legal & General Group Plc Raises Holdings in Stryker Co. (NYSE:SYK)

Legal & General Group Plc lifted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,844,394 shares of the medical technology company's stock after buying an additional 2,563 shares during the period. Legal & General Group Plc owned approximately 0.75% of Stryker worth $967,803,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $25,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the first quarter worth about $39,000. Accent Capital Management LLC bought a new stake in Stryker in the fourth quarter worth about $60,000. Sachetta LLC boosted its stake in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company's stock valued at $80,000 after acquiring an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company's stock valued at $94,000 after acquiring an additional 40 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company's stock, valued at approximately $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company's stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an "outperform" rating and a $405.00 price objective on the stock. BTIG Research increased their price target on Stryker from $360.00 to $374.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They issued a "neutral" rating and a $372.00 price objective on the stock. Evercore ISI reduced their target price on shares of Stryker from $370.00 to $365.00 and set an "outperform" rating for the company in a research note on Tuesday, July 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $378.58.

Stryker Stock Down 0.2 %

Shares of SYK stock traded down $0.89 during mid-day trading on Friday, hitting $360.46. The company's stock had a trading volume of 268,967 shares, compared to its average volume of 1,280,730. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The stock has a market cap of $137.32 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.79 and a beta of 0.91. The business has a 50-day moving average price of $347.53 and a 200 day moving average price of $343.13.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm's revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 EPS. Research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker's dividend payout ratio (DPR) is presently 36.53%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.