MainStreet Investment Advisors LLC Sells 87 Shares of Stryker Co. (NYSE:SYK)

MainStreet Investment Advisors LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,793 shares of the medical technology company’s stock after selling 87 shares during the period. MainStreet Investment Advisors LLC’s holdings in Stryker were worth $2,446,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. J. W. Coons Advisors LLC boosted its holdings in shares of Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock worth $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC boosted its holdings in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock worth $53,000 after purchasing an additional 27 shares during the period. Opal Wealth Advisors LLC boosted its holdings in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 28 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 28 shares during the period. Finally, Capital & Planning LLC boosted its holdings in shares of Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares during the period. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Royal Bank of Canada increased their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Barclays increased their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Argus set a $450.00 price target on shares of Stryker in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.05.

Stryker Price Performance

Shares of NYSE SYK opened at $387.92 on Wednesday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a 50 day simple moving average of $365.43 and a two-hundred day simple moving average of $374.82. The company has a market capitalization of $148.06 billion, a price-to-earnings ratio of 49.99, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is currently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

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.