Suncoast Equity Management Has $43.44 Million Position in Stryker Co. (NYSE:SYK)

Suncoast Equity Management reduced its stake in shares of Stryker Co. (NYSE:SYK) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 120,254 shares of the medical technology company’s stock after selling 7,089 shares during the quarter. Stryker comprises 5.0% of Suncoast Equity Management’s portfolio, making the stock its 7th biggest holding. Suncoast Equity Management’s holdings in Stryker were worth $43,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares during the last quarter. Versant Capital Management Inc raised its stake in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares during the last quarter. Stanley Laman Group Ltd. boosted its holdings in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the period. Plimoth Trust Co. LLC grew its position in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Stryker by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock worth $885,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SYK shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Morgan Stanley upped their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Truist Financial raised their target price on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Finally, UBS Group boosted their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last 90 days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE SYK traded down $1.92 during trading hours on Monday, reaching $367.64. 205,387 shares of the company’s stock were exchanged, compared to its average volume of 1,248,346. The firm has a fifty day moving average of $355.79 and a 200-day moving average of $343.20. 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 Co. has a one year low of $255.22 and a one year high of $374.63. The stock has a market cap of $140.05 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

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

Stryker Dividend Announcement

The company 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 dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker 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.