Stryker Co. (NYSE:SYK) Stake Cut by Montag & Caldwell LLC

Montag & Caldwell LLC cut its position in shares of Stryker Co. (NYSE:SYK) by 21.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,712 shares of the medical technology company’s stock after selling 735 shares during the period. Montag & Caldwell LLC’s holdings in Stryker were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Farmers National Bank acquired a new stake in Stryker in the first quarter worth $25,000. Cable Hill Partners LLC acquired a new position in shares of Stryker during the first quarter valued at $30,000. Horan Capital Advisors LLC. acquired a new position in shares of Stryker during the first quarter valued at $40,000. Webster Bank N. A. increased its holdings in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Finally, Westside Investment Management Inc. acquired a new position in shares of Stryker during the second quarter valued at $47,000. Hedge funds and other institutional investors own 73.48% of the company’s stock.

In related news, Director Allan C. Golston sold 3,399 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total value of $713,246.16. Following the completion of the transaction, the director now owns 13,762 shares in the company, valued at approximately $2,887,818.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the transaction, the insider now owns 155,963 shares of the company’s stock, valued at approximately $32,109,662.44. The disclosure for this sale can be found here. Insiders sold a total of 15,431 shares of company stock valued at $3,174,489 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

SYK has been the topic of a number of research analyst reports. Credit Suisse Group raised their price target on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Co raised their price target on Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley raised their price target on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $214.89.

Shares of NYSE:SYK traded up $2.81 during midday trading on Thursday, reaching $214.87. The company had a trading volume of 328,034 shares, compared to its average volume of 1,090,678. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $222.59. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85. The company has a fifty day simple moving average of $210.23.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the company posted $1.76 EPS. Stryker’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 8.2 earnings per share for the current fiscal year.

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 given a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is 28.45%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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