Raymond James Trust N.A. Sells 156 Shares of Stryker Co. (NYSE:SYK)

Raymond James Trust N.A. reduced its holdings in Stryker Co. (NYSE:SYK) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,396 shares of the medical technology company’s stock after selling 156 shares during the period. Raymond James Trust N.A.’s holdings in Stryker were worth $10,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Aspen Investment Management Inc raised its stake 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 grew its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after buying an additional 31 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 33 shares during the period. Versant Capital Management Inc raised its holdings in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its position 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 acquiring an additional 33 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE:SYK traded up $2.57 during midday trading on Friday, reaching $353.29. The company’s stock had a trading volume of 966,116 shares, compared to its average volume of 1,456,137. The business’s fifty day simple moving average is $335.90 and its 200-day simple moving average is $340.98. 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 Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a market capitalization of $134.59 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.71 and a beta of 0.89.

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 research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly 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. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. BTIG Research cut their target price on Stryker from $372.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Roth Mkm raised their price target on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $373.11.

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.