Moors & Cabot Inc. Cuts Position in Stryker Co. (NYSE:SYK)

Moors & Cabot Inc. decreased its stake in Stryker Co. (NYSE:SYK) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,603 shares of the medical technology company’s stock after selling 204 shares during the period. Moors & Cabot Inc.’s holdings in Stryker were worth $3,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Luts & Greenleigh Group Inc. acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $565,000. Citizens Financial Group Inc. RI raised its holdings in Stryker by 1,893.7% during the second quarter. Citizens Financial Group Inc. RI now owns 50,640 shares of the medical technology company’s stock worth $17,230,000 after purchasing an additional 48,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Stryker by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock worth $267,725,000 after purchasing an additional 97,160 shares in the last quarter. Angeles Investment Advisors LLC boosted its position in Stryker by 46.9% during the second quarter. Angeles Investment Advisors LLC now owns 1,149 shares of the medical technology company’s stock worth $391,000 after purchasing an additional 367 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC grew its holdings in Stryker by 1.4% in the second quarter. Marble Harbor Investment Counsel LLC now owns 27,860 shares of the medical technology company’s stock valued at $9,479,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYK shares. Barclays lifted their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. UBS Group lifted their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI lowered their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Stryker Price Performance

SYK opened at $371.97 on Tuesday. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The company’s 50 day simple moving average is $343.03 and its 200 day simple moving average is $342.53. The stock has a market capitalization of $141.70 billion, a PE ratio of 42.46, a P/E/G ratio of 2.84 and a beta of 0.91. 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 (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. As a group, sell-side analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 over the last three months. 5.90% of the stock is owned by insiders.

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.