Stryker Co. (NYSE:SYK) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,461 shares of the medical technology company’s stock after selling 86 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Stryker were worth $2,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $25,000. Central Pacific Bank Trust Division bought a new position in Stryker during the 1st quarter valued at $39,000. Accent Capital Management LLC acquired a new position in Stryker during the 4th quarter worth $60,000. Sachetta LLC increased its position in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Stryker by 17.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Evercore ISI decreased their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $361.38 on Friday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a market cap of $137.67 billion, a PE ratio of 41.25, a P/E/G ratio of 2.79 and a beta of 0.91. The stock has a 50 day simple moving average of $346.93 and a 200-day simple moving average of $343.01. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced 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. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 EPS. On average, equities research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 36.53%.

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