Stryker Co. (NYSE:SYK) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its stake in Stryker Co. (NYSE:SYK) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,443 shares of the medical technology company’s stock after selling 580 shares during the period. Wealthspire Advisors LLC’s holdings in Stryker were worth $2,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Stryker in the 4th quarter valued at about $1,260,562,000. Global Assets Advisory LLC purchased a new stake in shares of Stryker during the first quarter worth approximately $341,049,000. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $370.25 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a one year low of $249.98 and a one year high of $374.24. The company has a 50-day simple moving average of $342.26 and a 200-day simple moving average of $342.44. The stock has a market capitalization of $141.09 billion, a price-to-earnings ratio of 42.27, a PEG ratio of 2.84 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion for 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%. During the same period last year, the business posted $2.54 EPS. The company’s revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.86%. Stryker’s payout ratio is currently 36.53%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred 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 sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on 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 owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,600 shares of company stock worth $68,330,400. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. UBS Group lifted their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI cut their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. BTIG Research boosted their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Morgan Stanley increased their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

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.