Kingswood Wealth Advisors LLC Decreases Position in Stryker Co. (NYSE:SYK)

Kingswood Wealth Advisors LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 19.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,796 shares of the medical technology company’s stock after selling 934 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Stryker were worth $1,292,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. New England Research & Management Inc. boosted its holdings in shares of Stryker by 39.8% in the 2nd quarter. New England Research & Management Inc. now owns 6,410 shares of the medical technology company’s stock valued at $2,181,000 after buying an additional 1,825 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Stryker by 2.0% during the 2nd quarter. Trust Co. of Vermont now owns 29,792 shares of the medical technology company’s stock valued at $10,137,000 after acquiring an additional 591 shares during the last quarter. Mather Group LLC. increased its stake in Stryker by 7.8% during the second quarter. Mather Group LLC. now owns 6,637 shares of the medical technology company’s stock worth $2,375,000 after purchasing an additional 480 shares during the period. Douglas Lane & Associates LLC increased its stake in shares of Stryker by 51.0% during the second quarter. Douglas Lane & Associates LLC now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 292 shares during the period. Finally, ST Germain D J Co. Inc. boosted its holdings in Stryker by 8.1% in the second quarter. ST Germain D J Co. Inc. now owns 2,152 shares of the medical technology company’s stock valued at $732,000 after purchasing an additional 162 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 1.0 %

Shares of Stryker stock traded down $3.07 during trading on Wednesday, reaching $319.60. The stock had a trading volume of 1,349,337 shares, compared to its average volume of 1,337,143. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a market capitalization of $121.75 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 2.56 and a beta of 0.89. The company has a current ratio of 1.68, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $338.14 and a two-hundred day moving average price of $340.03.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the business posted $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 11.99 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a $0.80 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 1.00%. Stryker’s payout ratio is 36.53%.

Insider Activity at Stryker

In other 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 value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Roth Mkm raised their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price target on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Evercore ISI decreased their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group began coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $373.11.

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.