Stryker Co. (NYSE:SYK) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 7.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,192 shares of the medical technology company’s stock after selling 1,368 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Stryker were worth $6,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Centennial Bank AR raised its position in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new position in Stryker in the third quarter worth approximately $42,000. Grove Bank & Trust boosted its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC grew its position in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Evercore ISI boosted their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. BTIG Research upped their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $381.16.

Stryker Stock Performance

NYSE:SYK opened at $355.64 on Monday. The company has a market cap of $135.48 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 2.73 and a beta of 0.91. The stock has a fifty day moving average price of $358.80 and a 200-day moving average price of $343.65. Stryker Co. has a fifty-two week low of $258.33 and a fifty-two week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. Stryker’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate 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. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $3,219,495. 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 accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. 5.90% of the stock is currently owned by 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.