Signet Financial Management LLC cut its position in Stryker Co. (NYSE:SYK) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,085 shares of the medical technology company’s stock after selling 3,344 shares during the period. Stryker comprises 1.2% of Signet Financial Management LLC’s portfolio, making the stock its 18th largest holding. Signet Financial Management LLC’s holdings in Stryker were worth $5,808,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SYK. Farmers National Bank bought a new stake in Stryker during the first quarter valued at about $25,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Stryker during the second quarter worth about $27,000. Cable Hill Partners LLC bought a new stake in Stryker during the 1st quarter valued at approximately $30,000. Ossiam bought a new stake in Stryker during the 2nd quarter valued at approximately $33,000. Finally, Webster Bank N. A. lifted its holdings in Stryker by 300.0% in the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 73.01% of the company’s stock.
Stryker stock traded up $3.86 during mid-day trading on Wednesday, reaching $217.55. 46,051 shares of the company’s stock traded hands, compared to its average volume of 850,225. The company has a market cap of $81.25 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.64 and a beta of 0.83. The stock has a 50 day moving average of $216.25 and a two-hundred day moving average of $199.25. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $223.45.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the company posted $1.76 EPS. The business’s revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.96%. Stryker’s dividend payout ratio is currently 28.45%.
Several research firms have weighed in on SYK. Piper Jaffray Companies restated a “buy” rating on shares of Stryker in a research note on Wednesday, September 4th. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley boosted their target price on shares of Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Cantor Fitzgerald upped their target price on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Robert W. Baird raised their target price on shares of Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $214.89.
In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the transaction, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Srikant M. Datar sold 350 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total value of $75,250.00. Following the sale, the director now owns 6,844 shares in the company, valued at approximately $1,471,460. The disclosure for this sale can be found here. Insiders have sold 20,447 shares of company stock worth $4,262,634 over the last three months. 7.20% of the stock is currently owned by insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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