Courier Capital LLC Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Courier Capital LLC cut its stake in Stryker Co. (NYSE:SYK) by 76.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Aspen Investment Management Inc grew its holdings in Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after purchasing an additional 31 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc lifted its position in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock traded up $3.42 during mid-day 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. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The business’s fifty day moving average is $335.58 and its 200-day moving average is $340.84. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 2.61 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm 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%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, research analysts forecast that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on SYK. Wells Fargo & Company boosted their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Truist Financial lowered their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Morgan Stanley raised their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.11.

Insider Activity at Stryker

In other 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 completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is owned by company 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.