Stryker Co. (NYSE:SYK) Stake Reduced by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 46.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,886 shares of the medical technology company’s stock after selling 8,414 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Stryker were worth $3,368,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new position in Stryker during the 4th quarter worth $25,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the fourth quarter worth $34,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth $39,000. Accent Capital Management LLC bought a new position in shares of Stryker in the fourth quarter worth $60,000. Finally, Sachetta LLC bought a new position in shares of Stryker in the fourth quarter worth $62,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 2.1 %

Shares of Stryker stock opened at $364.00 on Wednesday. The stock has a 50-day moving average price of $343.60 and a 200 day moving average price of $342.61. The company has a market cap of $138.71 billion, a P/E ratio of 41.55, a P/E/G ratio of 2.87 and a beta of 0.91. 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 1 year low of $249.98 and a 1 year high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) 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 business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 EPS. As a group, analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYK. UBS Group increased their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group began coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target for the company. Needham & Company LLC increased their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Evercore ISI cut their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Truist Financial cut their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

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.