Signaturefd LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Signaturefd LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,105 shares of the medical technology company’s stock after selling 128 shares during the period. Signaturefd LLC’s holdings in Stryker were worth $3,289,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its stake in Stryker by 2.4% in the 1st 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 in the last quarter. Versant Capital Management Inc increased its holdings in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Plimoth Trust Co. LLC increased its holdings in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Stryker by 1.4% in the 1st quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock worth $885,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.4 %

Stryker stock traded down $1.40 during trading hours on Tuesday, hitting $365.85. The company had a trading volume of 250,621 shares, compared to its average volume of 1,246,942. The company has a 50-day moving average price of $356.63 and a two-hundred day moving average price of $343.34. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The firm has a market cap of $139.37 billion, a P/E ratio of 41.92, a P/E/G ratio of 2.85 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, topping 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 in the prior year, the company earned $2.54 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 12 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. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is presently 36.53%.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last 90 days. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. BTIG Research boosted their target price on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Truist Financial boosted their target price on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

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.