Tandem Capital Management Corp ADV Has $5.57 Million Stake in Stryker Co. (NYSE:SYK)

Tandem Capital Management Corp ADV decreased its position in shares of Stryker Co. (NYSE:SYKFree Report) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,428 shares of the medical technology company’s stock after selling 749 shares during the quarter. Stryker accounts for about 2.8% of Tandem Capital Management Corp ADV’s holdings, making the stock its 7th biggest holding. Tandem Capital Management Corp ADV’s holdings in Stryker were worth $5,574,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker in the first quarter worth $795,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC bought a new stake in shares of Stryker during the 1st quarter worth about $4,027,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 1.2 %

Stryker stock opened at $363.48 on Thursday. The firm’s 50 day moving average price is $359.79 and its two-hundred day moving average price is $343.98. The firm has a market cap of $138.47 billion, a PE ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker Co. has a twelve month low of $264.85 and a twelve month high of $374.63. 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:SYKGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. 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 can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $392.60.

Get Our Latest Analysis on Stryker

About Stryker

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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