Sterling Investment Advisors Ltd. Decreases Holdings in Stryker Co. (NYSE:SYK)

Sterling Investment Advisors Ltd. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,400 shares of the medical technology company’s stock after selling 75 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Stryker were worth $1,157,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $25,000. DSM Capital Partners LLC bought a new position in Stryker during the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division bought a new position in Stryker during the 1st quarter worth approximately $39,000. Private Wealth Management Group LLC bought a new position in Stryker during the 4th quarter worth approximately $40,000. Finally, Advantage Trust Co bought a new position in Stryker during the 4th quarter worth approximately $60,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 over the last quarter. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.6 %

Shares of NYSE:SYK opened at $358.00 on Friday. The stock has a fifty day simple moving average of $338.69 and a two-hundred day simple moving average of $341.91. The stock has a market capitalization of $136.43 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $364.36. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, research analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYK shares. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Barclays lifted their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Finally, UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $377.11.

Stryker Company 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.