Stryker Corporation $SYK Shares Purchased by LaFleur & Godfrey LLC

Key Points

• LaFleur & Godfrey LLC increased its Stryker position by 9.4% in the third quarter, bringing its holdings to 82,899 shares valued at approximately $22.83 million. Institutional investors and hedge funds own 77.09% of Stryker’s stock.
• Stryker insiders sold 351,267 shares worth approximately $118.2 million over the past 90 days, including Director Ronda E. Stryker’s $17 million sale.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $369, while Stryker reported quarterly EPS of $3.69 and revenue of $6.59 billion. The company also declared a quarterly dividend of $0.88 per share, representing a 1.2% yield.

LaFleur & Godfrey LLC increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,899 shares of the medical technology company's stock after purchasing an additional 7,133 shares during the period. Stryker accounts for about 2.7% of LaFleur & Godfrey LLC's holdings, making the stock its 9th biggest holding. LaFleur & Godfrey LLC's holdings in Stryker were worth $22,830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. North Dakota State Investment Board lifted its stake in shares of Stryker by 3.5% in the 3rd quarter. North Dakota State Investment Board now owns 10,592 shares of the medical technology company's stock valued at $2,917,000 after purchasing an additional 357 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $42,000. BLB&B Advisors LLC increased its position in shares of Stryker by 3.4% during the 3rd quarter. BLB&B Advisors LLC now owns 39,060 shares of the medical technology company's stock worth $10,757,000 after purchasing an additional 1,273 shares during the last quarter. AMI Investment Management Inc. increased its position in shares of Stryker by 19.5% during the 3rd quarter. AMI Investment Management Inc. now owns 15,286 shares of the medical technology company's stock worth $4,210,000 after purchasing an additional 2,496 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Stryker by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 150,467 shares of the medical technology company's stock valued at $41,437,000 after buying an additional 3,050 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 50,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the sale, the director owned 2,251,375 shares of the company's stock, valued at approximately $765,692,637.50. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dylan Crotty sold 441 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 351,267 shares of company stock worth $118,197,701 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on SYK. Wells Fargo & Company decreased their target price on shares of Stryker from $418.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Argus set a $370.00 price target on shares of Stryker in a research note on Thursday, July 9th. Wolfe Research lowered shares of Stryker from an "outperform" rating to a "peer perform" rating in a report on Thursday, August 13th. Citizens Jmp lowered their price objective on shares of Stryker from $440.00 to $400.00 and set a "market outperform" rating for the company in a research report on Monday, August 3rd. Finally, Truist Financial dropped their target price on shares of Stryker from $340.00 to $310.00 and set a "hold" rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $369.00.

Stryker Stock Performance

NYSE SYK opened at $303.85 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The company has a market cap of $116.55 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.98 and a beta of 0.78. The stock has a 50-day moving average of $294.14 and a two-hundred day moving average of $325.14. Stryker Corporation has a 1-year low of $267.00 and a 1-year high of $389.33.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.58 billion. During the same quarter in the prior year, the company earned $3.13 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Stryker Corporation will post 14.93 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's dividend payout ratio is presently 36.48%.

About Stryker

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.