Lynch & Associates IN Sells 1,025 Shares of Stryker Co. (NYSE:SYK)

Lynch & Associates IN lessened its stake in shares of Stryker Co. (NYSE:SYK) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,280 shares of the medical technology company’s stock after selling 1,025 shares during the period. Stryker accounts for approximately 1.4% of Lynch & Associates IN’s holdings, making the stock its 24th biggest position. Lynch & Associates IN’s holdings in Stryker were worth $5,577,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Stryker by 0.7% in the 1st quarter. BlackRock Inc. now owns 24,673,528 shares of the medical technology company’s stock worth $7,043,552,000 after acquiring an additional 178,460 shares during the last quarter. Bank of New York Mellon Corp increased its position in Stryker by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 6,683,415 shares of the medical technology company’s stock worth $1,907,914,000 after purchasing an additional 98,909 shares during the last quarter. FMR LLC raised its stake in Stryker by 50.5% during the first quarter. FMR LLC now owns 6,012,525 shares of the medical technology company’s stock valued at $1,716,396,000 after purchasing an additional 2,017,006 shares in the last quarter. Morgan Stanley lifted its position in Stryker by 21.7% during the fourth quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after purchasing an additional 1,066,751 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Stryker by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after buying an additional 117,786 shares in the last quarter. 76.24% of the stock is owned by institutional investors.

Stryker Stock Down 0.3 %

Shares of Stryker stock traded down $0.75 during trading on Tuesday, hitting $292.47. 235,011 shares of the stock traded hands, compared to its average volume of 1,294,351. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $286.90 and its 200 day simple moving average is $285.91. The firm has a market cap of $111.07 billion, a P/E ratio of 41.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.95. Stryker Co. has a 52-week low of $200.80 and a 52-week high of $306.93.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts predict that Stryker Co. will post 10.37 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is 42.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Argus lifted their price target on Stryker from $285.00 to $310.00 in a research report on Thursday, May 25th. Bank of America raised Stryker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $310.00 to $315.00 in a research report on Tuesday, September 5th. Truist Financial raised their price target on Stryker from $300.00 to $310.00 in a research report on Wednesday, July 19th. Morgan Stanley increased their target price on shares of Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $309.59.

Insiders Place Their Bets

In other news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.90% of the stock is owned by company insiders.

Stryker Profile

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.