Quent Capital LLC Sells 91 Shares of Stryker Co. (NYSE:SYK)

Quent Capital LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,926 shares of the medical technology company’s stock after selling 91 shares during the period. Quent Capital LLC’s holdings in Stryker were worth $588,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SYK. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker during the 4th quarter valued at $26,000. Quarry LP bought a new stake in Stryker during the first quarter worth about $27,000. Elequin Securities LLC acquired a new stake in Stryker during the fourth quarter worth about $29,000. ST Germain D J Co. Inc. increased its holdings in Stryker by 6.6% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock valued at $32,000 after buying an additional 127 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of Stryker in the 1st quarter valued at approximately $33,000. 76.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SYK. Argus lifted their target price on Stryker from $285.00 to $310.00 in a research report on Thursday, May 25th. Bank of America raised Stryker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $310.00 to $315.00 in a report on Tuesday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $325.00 price target on shares of Stryker in a research note on Thursday, August 17th. Barclays increased their target price on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Finally, BTIG Research boosted their price target on shares of Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $309.59.

Insider Activity

In related news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the sale, the insider now owns 6,994 shares in the company, valued at approximately $2,021,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.8 %

SYK stock traded down $2.23 during trading on Friday, reaching $292.77. 2,134,362 shares of the stock were exchanged, compared to its average volume of 1,095,935. The firm’s 50 day moving average is $286.93 and its 200 day moving average is $285.36. The firm has a market cap of $111.19 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 2.85 and a beta of 0.95. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. Stryker Co. has a twelve month low of $200.80 and a twelve month high of $306.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. Stryker’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 10.37 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is 42.37%.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.