Hollencrest Capital Management trimmed its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 99.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 199 shares of the medical technology company’s stock after selling 25,239 shares during the period. Hollencrest Capital Management’s holdings in Stryker were worth $63,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its stake in Stryker by 2.1% in the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock valued at $5,374,731,000 after acquiring an additional 311,507 shares during the period. Wellington Management Group LLP raised its position in Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after acquiring an additional 45,478 shares during the period. Geode Capital Management LLC raised its position in Stryker by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after acquiring an additional 69,851 shares during the period. Norges Bank purchased a new position in Stryker during the fourth quarter valued at $1,822,272,000. Finally, Bank of America Corp DE acquired a new stake in shares of Stryker in the second quarter valued at about $1,404,284,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Stryker Trading Up 2.9%
SYK opened at $331.32 on Friday. The firm has a market capitalization of $127.08 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.76. The company’s 50 day simple moving average is $329.10 and its two-hundred day simple moving average is $331.47. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $396.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33.
Stryker Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker’s payout ratio is currently 36.48%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SYK. JPMorgan Chase & Co. cut their target price on shares of Stryker from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. BMO Capital Markets began coverage on shares of Stryker in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price target on the stock. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Citizens Jmp reduced their target price on Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a report on Monday, August 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stryker in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $386.28.
Get Our Latest Stock Report on Stryker
Insider Activity
In related news, insider Dylan Bram Crotty sold 441 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Debra King sold 826 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by insiders.
Stryker Company Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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