Everett Harris & Co. CA Sells 35 Shares of Stryker Co. (NYSE:SYK)

Everett Harris & Co. CA reduced its stake in Stryker Co. (NYSE:SYK) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,465 shares of the medical technology company’s stock after selling 35 shares during the period. Everett Harris & Co. CA’s holdings in Stryker were worth $2,336,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SYK. Centennial Bank AR boosted its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC bought a new position in Stryker during the 3rd quarter worth approximately $42,000. Grove Bank & Trust grew its holdings in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, Sachetta LLC increased its stake in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SYK shares. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Evercore ISI boosted their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Price Performance

NYSE:SYK opened at $369.56 on Friday. The stock has a market capitalization of $140.83 billion, a PE ratio of 41.20, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $355.79 and a 200 day simple moving average of $343.26. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 35.67%.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by insiders.

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.