DB Fitzpatrick & Co Inc Cuts Stake in Stryker Co. (NYSE:SYK)

DB Fitzpatrick & Co Inc cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,300 shares of the medical technology company’s stock after selling 30 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in Stryker were worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYK. Tennessee Valley Asset Management Partners bought a new stake in shares of Stryker in the 4th quarter valued at about $61,000. Consolidated Portfolio Review Corp increased its stake in shares of Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after buying an additional 34 shares during the period. Vontobel Holding Ltd. raised its holdings in Stryker by 4.7% during the 4th quarter. Vontobel Holding Ltd. now owns 63,077 shares of the medical technology company’s stock valued at $18,889,000 after buying an additional 2,847 shares during the last quarter. Beverly Hills Private Wealth LLC grew its holdings in Stryker by 13.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 987 shares of the medical technology company’s stock worth $295,000 after acquiring an additional 119 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Stryker by 1.5% during the fourth quarter. Strs Ohio now owns 198,534 shares of the medical technology company’s stock valued at $59,452,000 after acquiring an additional 2,962 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

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

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. UBS Group upped their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler increased their price objective on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $373.11.

Stryker Stock Performance

Shares of SYK stock traded up $1.49 during mid-day trading on Thursday, reaching $334.17. 1,253,723 shares of the company’s stock traded hands, compared to its average volume of 1,322,153. The firm has a 50 day moving average price of $336.35 and a two-hundred day moving average price of $340.48. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. 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 firm has a market capitalization of $127.35 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. On average, research analysts forecast that Stryker Co. will post 11.99 EPS for the current year.

Stryker Dividend Announcement

The company 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. Stryker’s payout ratio is 36.53%.

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.