Stryker Co. (NYSE:SYK) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,779 shares of the medical technology company’s stock after selling 465 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Stryker were worth $10,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Precision Wealth Strategies LLC lifted its holdings in shares of Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after acquiring an additional 65 shares during the last quarter. Gryphon Financial Partners LLC purchased a new position in shares of Stryker during the fourth quarter worth $348,000. Level Four Advisory Services LLC grew its stake in shares of Stryker by 31.0% in the fourth quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock valued at $361,000 after buying an additional 285 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after buying an additional 70 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its stake in Stryker by 10.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,798 shares of the medical technology company’s stock worth $539,000 after acquiring an additional 168 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, 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 available at this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last three months. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Morgan Stanley boosted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Evercore ISI cut their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Down 2.1 %

SYK opened at $364.00 on Wednesday. The business has a 50 day moving average price of $343.60 and a two-hundred day moving average price of $342.61. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The company has a market cap of $138.71 billion, a PE ratio of 41.55, a P/E/G ratio of 2.87 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued 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. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. As a group, research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.