Steward Partners Investment Advisory LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 5.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,785 shares of the medical technology company’s stock after selling 269 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Stryker were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. D.B. Root & Company LLC lifted its position in Stryker by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,724 shares of the medical technology company’s stock valued at $354,000 after purchasing an additional 50 shares during the period. Welch Group LLC lifted its position in Stryker by 1.5% during the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 54 shares during the period. Independence Bank of Kentucky lifted its position in Stryker by 4.9% during the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 55 shares during the period. Benedict Financial Advisors Inc. lifted its position in Stryker by 1.1% during the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 57 shares during the period. Finally, Berman Capital Advisors LLC lifted its position in Stryker by 11.1% during the first quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after purchasing an additional 57 shares during the period. 73.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Allan C. Golston sold 3,399 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the transaction, the director now owns 13,762 shares in the company, valued at approximately $2,887,818.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the transaction, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,097 shares of company stock valued at $4,045,678. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Stryker Co. will post 8.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
SYK has been the subject of a number of research reports. Deutsche Bank boosted their target price on shares of Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Raymond James set a $240.00 target price on shares of Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. BTIG Research restated a “buy” rating and set a $228.00 target price on shares of Stryker in a research report on Monday, July 29th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co upped their price objective on shares of Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $214.89.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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