Waddell & Associates LLC Sells 963 Shares of Stryker Co. (NYSE:SYK)

Waddell & Associates LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 54.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 797 shares of the medical technology company’s stock after selling 963 shares during the period. Waddell & Associates LLC’s holdings in Stryker were worth $271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in Stryker in the 4th quarter valued at about $25,000. DSM Capital Partners LLC bought a new position in Stryker during the 4th quarter worth $34,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the 1st quarter valued at $39,000. Private Wealth Management Group LLC acquired a new stake in shares of Stryker during the 4th quarter worth $40,000. Finally, Northwest Financial Advisors bought a new position in shares of Stryker in the fourth quarter worth $60,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on 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 completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock worth $68,330,400 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. BTIG Research boosted their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC raised their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.11.

Stryker Trading Up 0.3 %

Shares of NYSE SYK traded up $0.92 during trading on Friday, reaching $358.92. The company had a trading volume of 1,001,435 shares, compared to its average volume of 1,295,614. The company’s fifty day moving average price is $339.06 and its 200-day moving average price is $341.94. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $136.73 billion, a P/E ratio of 40.97, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12 earnings per share for the current 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 paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.