ICW Investment Advisors LLC Sells 159 Shares of Stryker Co. (NYSE:SYK)

ICW Investment Advisors LLC cut its holdings in Stryker Co. (NYSE:SYK) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,803 shares of the medical technology company’s stock after selling 159 shares during the quarter. ICW Investment Advisors LLC’s holdings in Stryker were worth $1,634,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter worth $25,000. DSM Capital Partners LLC bought a new position in Stryker during the 4th quarter worth about $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the 1st quarter valued at about $39,000. Private Wealth Management Group LLC acquired a new position in shares of Stryker during the fourth quarter worth about $40,000. Finally, Advantage Trust Co acquired a new position in shares of Stryker during the fourth quarter worth about $60,000. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Needham & Company LLC lifted their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Stock Performance

Shares of SYK traded up $0.47 during trading hours on Friday, hitting $358.47. The company had a trading volume of 115,534 shares, compared to its average volume of 1,290,237. The business has a fifty day moving average of $338.69 and a 200-day moving average of $341.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market cap of $136.61 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 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 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $6,660,000.00. Following the sale, 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 have sold a total of 210,600 shares of company stock valued at $68,330,400 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

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.