Stryker Corporation (NYSE:SYK) Shares Sold by Holderness Investments Co.

Holderness Investments Co. lowered its position in shares of Stryker Corporation (NYSE:SYK) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,504 shares of the medical technology company’s stock after selling 64 shares during the quarter. Holderness Investments Co.’s holdings in Stryker were worth $1,677,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. boosted its holdings in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the 1st quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Stryker in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYK shares. Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Citigroup reiterated a “buy” rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Evercore ISI boosted their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK stock opened at $378.84 on Thursday. Stryker Corporation has a 12 month low of $328.24 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market capitalization of $144.83 billion, a P/E ratio of 50.18, a P/E/G ratio of 2.74 and a beta of 0.91. The company’s fifty day moving average price is $386.91 and its two-hundred day moving average price is $379.83.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) 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 period in the previous year, the business earned $2.81 EPS. Stryker’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed 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 payout ratio is currently 44.50%.

Stryker 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.