Courier Capital LLC Has $268,000 Position in Stryker Co. (NYSE:SYK)

Courier Capital LLC lowered its position in Stryker Co. (NYSE:SYK) by 76.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788 shares of the medical technology company’s stock after selling 2,569 shares during the quarter. Courier Capital LLC’s holdings in Stryker were worth $268,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Burkett Financial Services LLC bought a new position in shares of Stryker during the 4th quarter valued at $25,000. Rogco LP bought a new position in shares of Stryker in the 4th quarter valued at approximately $30,000. DSM Capital Partners LLC acquired a new stake in Stryker in the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter worth approximately $39,000. Finally, Private Wealth Management Group LLC bought a new stake in Stryker during the fourth quarter worth approximately $40,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group started coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Finally, Piper Sandler upped their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.11.

Insider Activity at Stryker

In other Stryker 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

Shares of NYSE:SYK traded up $3.42 during trading on Thursday, reaching $348.74. The stock had a trading volume of 612,733 shares, compared to its average volume of 1,305,744. The business’s 50-day moving average price is $335.58 and its 200 day moving average price is $340.84. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a market capitalization of $132.85 billion, a PE ratio of 39.86, a P/E/G ratio of 2.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the company posted $2.54 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.