Royal Fund Management LLC Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Royal Fund Management LLC trimmed its position in Stryker Co. (NYSE:SYK) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,533 shares of the medical technology company’s stock after selling 283 shares during the period. Royal Fund Management LLC’s holdings in Stryker were worth $2,298,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Stryker in the first quarter worth about $27,000. Freedom Wealth Alliance LLC bought a new stake in Stryker during the 4th quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in Stryker during the 1st quarter valued at approximately $33,000. HBW Advisory Services LLC bought a new stake in Stryker during the 2nd quarter valued at approximately $35,000. Finally, Cascade Investment Advisors Inc. bought a new stake in Stryker during the 1st quarter valued at approximately $34,000. Institutional investors own 76.24% of the company’s stock.

Stryker Price Performance

SYK opened at $293.22 on Tuesday. The business has a fifty day moving average of $286.90 and a 200 day moving average of $285.91. Stryker Co. has a 52-week low of $200.80 and a 52-week high of $306.93. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $111.36 billion, a P/E ratio of 41.42, a PEG ratio of 2.83 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business earned $2.25 EPS. Stryker’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 10.37 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.75 per share. 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 payout ratio is 42.37%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Argus lifted their target price on Stryker from $285.00 to $310.00 in a research note on Thursday, May 25th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research note on Thursday, August 17th. BTIG Research lifted their price objective on Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Finally, Barclays lifted their price objective on Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.59.

Insider Transactions at Stryker

In other 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 transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

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.