Addison Advisors LLC Has $1.35 Million Position in Stryker Co. (NYSE:SYK)

Addison Advisors LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,972 shares of the medical technology company’s stock after selling 184 shares during the quarter. Addison Advisors LLC’s holdings in Stryker were worth $1,351,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at $25,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker in the 4th quarter valued at $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the 1st quarter valued at $39,000. Private Wealth Management Group LLC bought a new stake in shares of Stryker in the 4th quarter worth about $40,000. Finally, Advantage Trust Co acquired a new stake in shares of Stryker during the 4th quarter worth about $60,000. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BTIG Research increased their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $377.11.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Down 0.4 %

Shares of NYSE:SYK traded down $1.31 during mid-day trading on Friday, reaching $356.69. The stock had a trading volume of 136,758 shares, compared to its average volume of 1,290,587. The firm has a market cap of $135.93 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The firm has a 50 day simple moving average of $338.69 and a two-hundred day simple moving average of $341.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $364.36.

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

Stryker Dividend Announcement

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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker Company 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.