Stryker Co. (NYSE:SYK) Shares Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,096 shares of the medical technology company’s stock after selling 3,153 shares during the quarter. Stryker makes up about 3.1% of Professional Advisory Services Inc.’s portfolio, making the stock its 14th biggest holding. Professional Advisory Services Inc.’s holdings in Stryker were worth $20,165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYK. Vinva Investment Management Ltd purchased a new stake in Stryker in the 1st quarter worth $3,257,000. Stifel Financial Corp increased its holdings in Stryker by 0.7% in the 1st quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock worth $114,412,000 after acquiring an additional 2,868 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new stake in Stryker in the 4th quarter worth $271,000. Maryland State Retirement & Pension System increased its holdings in Stryker by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,814 shares of the medical technology company’s stock worth $7,940,000 after acquiring an additional 164 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Stryker by 28.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock worth $1,271,000 after acquiring an additional 990 shares in the last quarter. 76.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Viju Menon sold 5,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at $2,021,266. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock traded down $2.23 during trading hours on Friday, hitting $292.77. The stock had a trading volume of 2,134,362 shares, compared to its average volume of 1,095,935. The firm has a market capitalization of $111.19 billion, a PE ratio of 41.37, a PEG ratio of 2.85 and a beta of 0.95. Stryker Co. has a twelve month low of $200.80 and a twelve month high of $306.93. The stock’s 50 day moving average is $286.93 and its 200 day moving average is $285.36. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 0.84.

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

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, September 28th. Stryker’s dividend payout ratio is presently 42.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYK shares. BTIG Research upped their target price on shares of Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Stryker in a research report on Thursday, August 17th. Truist Financial boosted their price target on shares of Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Finally, Bank of America upgraded shares of Stryker from a “neutral” rating to a “buy” rating and upped their target price for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.59.

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 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.