Allworth Financial LP Sells 300 Shares of Stryker Co. (NYSE:SYK)

Allworth Financial LP lessened its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 84,067 shares of the medical technology company’s stock after selling 300 shares during the quarter. Allworth Financial LP’s holdings in Stryker were worth $30,370,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Trueblood Wealth Management LLC raised its position in shares of Stryker by 7.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,841 shares of the medical technology company’s stock worth $1,026,000 after acquiring an additional 200 shares in the last quarter. Tandem Capital Management Corp ADV increased its holdings in Stryker by 1.3% in the third quarter. Tandem Capital Management Corp ADV now owns 16,390 shares of the medical technology company’s stock worth $5,865,000 after purchasing an additional 213 shares in the last quarter. West Michigan Advisors LLC lifted its stake in Stryker by 2.2% in the third quarter. West Michigan Advisors LLC now owns 8,573 shares of the medical technology company’s stock valued at $3,104,000 after buying an additional 183 shares during the period. Harbour Trust & Investment Management Co boosted its holdings in shares of Stryker by 1.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 42,347 shares of the medical technology company’s stock worth $15,298,000 after buying an additional 736 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of Stryker in the 3rd quarter valued at $993,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. UBS Group increased their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, BTIG Research lifted their price target on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Price Performance

Shares of NYSE SYK opened at $352.82 on Friday. The company has a market capitalization of $134.41 billion, a PE ratio of 40.28, a PEG ratio of 2.83 and a beta of 0.91. 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’s 50 day moving average price is $358.50 and its 200-day moving average price is $343.70. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 EPS. On average, equities analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last three months. Company 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.