Stryker Co. (NYSE:SYK) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,365 shares of the medical technology company’s stock after selling 366 shares during the period. Cullinan Associates Inc.’s holdings in Stryker were worth $2,713,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tandem Capital Management Corp ADV grew its holdings in Stryker by 1.3% during the third quarter. Tandem Capital Management Corp ADV now owns 16,390 shares of the medical technology company’s stock worth $5,865,000 after acquiring an additional 213 shares during the period. West Michigan Advisors LLC boosted its holdings in Stryker by 2.2% during the third quarter. West Michigan Advisors LLC now owns 8,573 shares of the medical technology company’s stock worth $3,104,000 after buying an additional 183 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Stryker by 1.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 42,347 shares of the medical technology company’s stock worth $15,298,000 after acquiring an additional 736 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new stake in shares of Stryker in the 3rd quarter worth approximately $993,000. Finally, Eagle Ridge Investment Management increased its stake in Stryker by 0.5% in the 3rd quarter. Eagle Ridge Investment Management now owns 87,373 shares of the medical technology company’s stock valued at $31,564,000 after purchasing an additional 397 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 1.8 %

Shares of SYK traded down $6.35 during trading hours on Friday, hitting $353.55. The stock had a trading volume of 91,772 shares, compared to its average volume of 1,242,184. The firm has a market cap of $134.68 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company’s fifty day simple moving average is $357.99 and its 200 day simple moving average is $343.59. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. UBS Group boosted their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Finally, Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

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.