Arbor Trust Wealth Advisors LLC Sells 186 Shares of Stryker Co. (NYSE:SYK)

Arbor Trust Wealth Advisors LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 11,974 shares of the medical technology company’s stock after selling 186 shares during the quarter. Stryker accounts for 2.1% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Stryker were worth $4,084,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SYK. Norges Bank purchased a new position in Stryker during the fourth quarter worth about $1,260,562,000. Global Assets Advisory LLC purchased a new position in shares of Stryker in the 1st quarter worth approximately $341,049,000. JPMorgan Chase & Co. grew its holdings in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.2 %

Shares of NYSE SYK opened at $360.30 on Thursday. The firm has a fifty day simple moving average of $338.34 and a two-hundred day simple moving average of $341.80. The firm has a market capitalization of $137.26 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36.

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 return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm posted $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business 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 $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s payout ratio is currently 36.53%.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of several research analyst reports. Truist Financial dropped their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective 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. The Goldman Sachs Group started coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Finally, Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $373.84.

About Stryker

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.