Smithbridge Asset Management Inc. DE Sells 1,368 Shares of Stryker Co. (NYSE:SYK)

Smithbridge Asset Management Inc. DE reduced its holdings in Stryker Co. (NYSE:SYK) by 7.0% during the third quarter, Holdings Channel.com reports. The fund owned 18,192 shares of the medical technology company’s stock after selling 1,368 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Stryker were worth $6,572,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYK. Centennial Bank AR raised its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker in the 1st quarter worth about $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the third quarter valued at about $42,000. Grove Bank & Trust lifted its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. Finally, DT Investment Partners LLC boosted its position in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, BTIG Research increased their target price on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Stock Up 0.8 %

Shares of NYSE:SYK opened at $355.64 on Monday. Stryker Co. has a fifty-two week low of $258.33 and a fifty-two week high of $374.63. The firm’s 50 day moving average price is $358.80 and its 200 day moving average price is $343.65. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $135.48 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.40 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

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.