Capital Investment Services of America Inc. Cuts Position in Stryker Co. (NYSE:SYK)

Capital Investment Services of America Inc. reduced its position in shares of Stryker Co. (NYSE:SYK) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,582 shares of the medical technology company’s stock after selling 4,119 shares during the period. Stryker comprises about 2.7% of Capital Investment Services of America Inc.’s holdings, making the stock its 16th largest holding. Capital Investment Services of America Inc.’s holdings in Stryker were worth $28,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norden Group LLC acquired a new position in shares of Stryker during the first quarter worth about $280,000. Lincoln National Corp increased its stake in Stryker by 3.0% in the first quarter. Lincoln National Corp now owns 7,159 shares of the medical technology company’s stock valued at $2,562,000 after purchasing an additional 210 shares during the last quarter. Jennison Associates LLC grew its position in shares of Stryker by 3.2% in the 1st quarter. Jennison Associates LLC now owns 214,900 shares of the medical technology company’s stock valued at $76,906,000 after buying an additional 6,763 shares during the last quarter. Whittier Trust Co. lifted its position in Stryker by 4.2% in the first quarter. Whittier Trust Co. now owns 3,346 shares of the medical technology company’s stock valued at $1,197,000 after acquiring an additional 134 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter worth about $39,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

NYSE:SYK traded down $1.12 on Monday, reaching $366.03. The stock had a trading volume of 128,602 shares, compared to its average volume of 1,253,614. The company has a market capitalization of $139.54 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The stock has a fifty day moving average price of $360.18 and a 200-day moving average price of $344.36. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1-year low of $266.93 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. Research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.80 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 34.30%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. 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, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 over the last 90 days. 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.