Lincoln National Corp lifted its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,166 shares of the medical technology company’s stock after acquiring an additional 498 shares during the period. Lincoln National Corp’s holdings in Stryker were worth $1,249,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Ontario Teachers Pension Plan Board raised its position in Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock worth $555,482,000 after purchasing an additional 2,075,371 shares during the period. Clearbridge Investments LLC increased its position in shares of Stryker by 664.0% during the second quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company’s stock worth $437,497,000 after acquiring an additional 1,911,376 shares during the period. TD Asset Management Inc. increased its position in shares of Stryker by 76.6% during the second quarter. TD Asset Management Inc. now owns 1,364,821 shares of the medical technology company’s stock worth $271,504,000 after acquiring an additional 592,179 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Stryker by 126.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 694,478 shares of the medical technology company’s stock worth $185,669,000 after acquiring an additional 388,467 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Stryker by 17.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,437,580 shares of the medical technology company’s stock worth $384,336,000 after acquiring an additional 213,582 shares during the period. 77.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on SYK shares. Piper Sandler reduced their target price on shares of Stryker from $260.00 to $250.00 in a research report on Monday, October 10th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Truist Financial raised their target price on shares of Stryker from $230.00 to $252.00 and gave the company a “hold” rating in a research note on Tuesday, December 20th. BTIG Research lifted their price objective on shares of Stryker from $232.00 to $268.00 in a research note on Wednesday, December 21st. Finally, Canaccord Genuity Group downgraded shares of Stryker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $225.00 to $220.00 in a research note on Tuesday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $260.68.
Stryker Stock Performance
Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The medical technology company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.12). The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Stryker had a return on equity of 22.27% and a net margin of 13.69%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 9.17 earnings per share for the current year.
Stryker Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a $0.75 dividend. The ex-dividend date is Thursday, December 29th. This is a boost from Stryker’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Stryker’s dividend payout ratio (DPR) is currently 46.66%.
Insider Buying and Selling
In related news, VP M Kathryn Fink sold 3,536 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $260.00, for a total value of $919,360.00. Following the sale, the vice president now directly owns 9,264 shares of the company’s stock, valued at $2,408,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, CEO Kevin Lobo sold 67,232 shares of Stryker stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $239.68, for a total transaction of $16,114,165.76. Following the transaction, the chief executive officer now directly owns 80,770 shares of the company’s stock, valued at $19,358,953.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 3,536 shares of Stryker stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $260.00, for a total transaction of $919,360.00. Following the transaction, the vice president now directly owns 9,264 shares in the company, valued at $2,408,640. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,079 shares of company stock valued at $19,354,832. Insiders own 6.50% of the company’s stock.
Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.
- Get a free copy of the StockNews.com research report on Stryker (SYK)
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