MainStreet Investment Advisors LLC Reduces Stock Position in Stryker Co. (NYSE:SYK)

MainStreet Investment Advisors LLC lowered its stake in Stryker Co. (NYSE:SYK) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,793 shares of the medical technology company’s stock after selling 87 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Stryker were worth $2,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter worth $25,000. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Stryker during the 4th quarter worth $30,000. BankPlus Trust Department purchased a new position in shares of Stryker during the 4th quarter worth $33,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $387.92 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $148.06 billion, a P/E ratio of 49.99, a P/E/G ratio of 2.93 and a beta of 0.93. The firm’s fifty day moving average is $365.43 and its two-hundred day moving average is $374.82. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYK. Evercore ISI dropped their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Citigroup restated a “buy” rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $427.05.

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.