Stryker Corporation $SYK Stake Reduced by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp lowered its holdings in Stryker Corporation (NYSE:SYK) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,528 shares of the medical technology company’s stock after selling 309 shares during the quarter. Stryker accounts for 4.4% of Noesis Capital Mangement Corp’s holdings, making the stock its 6th largest holding. Noesis Capital Mangement Corp’s holdings in Stryker were worth $25,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the second quarter valued at $26,000. Sachetta LLC raised its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the period. Ridgewood Investments LLC raised its position in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the period. Ransom Advisory Ltd purchased a new stake in Stryker in the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter valued at $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. BTIG Research boosted their price objective on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a report on Monday, October 13th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $434.32.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $369.17 on Thursday. The stock’s 50-day moving average is $379.14 and its two-hundred day moving average is $380.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a market cap of $141.14 billion, a price-to-earnings ratio of 48.90, a price-to-earnings-growth ratio of 2.71 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the business earned $2.81 EPS. Stryker’s revenue was up 11.1% on a year-over-year basis. Analysts forecast that Stryker Corporation 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 Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio is 44.50%.

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.