Abbrea Capital LLC Sells 57 Shares of Stryker Co. (NYSE:SYK)

Abbrea Capital LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,950 shares of the medical technology company’s stock after selling 57 shares during the quarter. Abbrea Capital LLC’s holdings in Stryker were worth $2,711,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter valued at $25,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker in the 4th quarter valued at $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the 1st quarter valued at $39,000. Private Wealth Management Group LLC acquired a new stake in shares of Stryker during the fourth quarter worth $40,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Stryker during the fourth quarter worth $60,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK opened at $367.79 on Friday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $368.89. The firm has a market capitalization of $140.16 billion, a PE ratio of 41.99, a PEG ratio of 2.83 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. The business’s 50-day simple moving average is $341.61 and its 200 day simple moving average is $342.38.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.40 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. Stryker’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SYK shares. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insiders Place Their Bets

In other news, 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’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 completion of 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 over the last 90 days. 5.90% of the stock is currently owned by 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.