Stryker Co. (NYSE:SYK) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its holdings in Stryker Co. (NYSE:SYK) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,396 shares of the medical technology company’s stock after selling 156 shares during the quarter. Raymond James Trust N.A.’s holdings in Stryker were worth $10,342,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Burkett Financial Services LLC purchased a new position in Stryker during the fourth quarter valued at $25,000. Rogco LP acquired a new position in shares of Stryker during the fourth quarter valued at approximately $30,000. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter worth approximately $39,000. DSM Capital Partners LLC purchased a new position in Stryker in the 4th quarter valued at $34,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYK. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird boosted their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Truist Financial cut their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Four 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Stryker Trading Up 0.7 %

Shares of SYK stock traded up $2.57 on Friday, hitting $353.29. The stock had a trading volume of 966,116 shares, compared to its average volume of 1,456,137. The company’s 50 day moving average price is $335.90 and its 200-day moving average price is $340.98. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The firm has a market capitalization of $134.59 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

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

Stryker Announces Dividend

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

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.