Salomon & Ludwin LLC Sells 551 Shares of Stryker Co. (NYSE:SYK)

Salomon & Ludwin LLC decreased its stake in Stryker Co. (NYSE:SYK) by 82.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118 shares of the medical technology company’s stock after selling 551 shares during the period. Salomon & Ludwin LLC’s holdings in Stryker were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter valued at approximately $25,000. Rogco LP bought a new position in shares of Stryker in the fourth quarter valued at $30,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter valued at $39,000. DSM Capital Partners LLC acquired a new position in Stryker during the fourth quarter worth $34,000. Finally, Private Wealth Management Group LLC bought a new stake in Stryker during the fourth quarter worth $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYK. Piper Sandler lifted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI lowered their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Needham & Company LLC upped their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research reduced their target price on Stryker from $372.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Insider Transactions at Stryker

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

Stryker Price Performance

NYSE:SYK traded up $0.47 during trading hours on Monday, reaching $353.76. 398,082 shares of the company were exchanged, compared to its average volume of 1,301,375. The business has a 50 day moving average of $335.90 and a 200 day moving average of $340.98. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market capitalization of $134.76 billion, a P/E ratio of 40.38, a P/E/G ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last released its 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. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 EPS. Research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently announced 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 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is presently 36.53%.

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.