Stryker Co. (NYSE:SYK) Stake Increased by Everence Capital Management Inc.

Everence Capital Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 47.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,880 shares of the medical technology company's stock after purchasing an additional 2,550 shares during the period. Everence Capital Management Inc.'s holdings in Stryker were worth $2,847,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Centennial Bank AR boosted its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the 1st quarter worth $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $42,000. Grove Bank & Trust lifted its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock worth $44,000 after acquiring an additional 56 shares during the period. Finally, Sachetta LLC lifted its stake in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company's stock worth $80,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Truist Financial raised their target price on shares of Stryker from $345.00 to $370.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Morgan Stanley increased their price target on shares of Stryker from $345.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, July 15th. Finally, Barclays increased their price target on shares of Stryker from $374.00 to $402.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $381.16.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the firm's 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 directly owns 9,069 shares of the company's stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on 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 in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Insiders own 5.90% of the company's stock.

Stryker Price Performance

NYSE:SYK traded down $2.33 during mid-day trading on Monday, hitting $367.23. 906,563 shares of the company's stock traded hands, compared to its average volume of 1,251,829. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The company has a market cap of $139.90 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The firm's 50 day simple moving average is $356.63 and its 200 day simple moving average is $343.34. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period last year, the company earned $2.54 EPS. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker's dividend payout ratio is currently 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.