Patron Partners LLC Sells 34 Shares of Stryker Co. (NYSE:SYK)

Patron Partners LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 3.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 862 shares of the medical technology company’s stock after selling 34 shares during the quarter. Patron Partners LLC’s holdings in Stryker were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $25,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the first quarter valued at approximately $39,000. DSM Capital Partners LLC purchased a new position in Stryker during the fourth quarter valued at $34,000. Private Wealth Management Group LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $40,000. Finally, Northwest Financial Advisors bought a new position in shares of Stryker in the fourth quarter worth approximately $60,000. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Up 0.3 %

Shares of SYK traded up $0.92 during mid-day trading on Friday, reaching $358.92. 993,670 shares of the company’s stock traded hands, compared to its average volume of 1,295,614. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock’s 50-day moving average is $339.06 and its two-hundred day moving average is $341.98. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36. The stock has a market cap of $136.78 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 earnings per share. Research analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. Evercore ISI reduced their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. BTIG Research upped their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.11.

About Stryker

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.