Sunbelt Securities Inc. Sells 101 Shares of Stryker Co. (NYSE:SYK)

Sunbelt Securities Inc. reduced its stake in Stryker Co. (NYSE:SYK) by 20.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399 shares of the medical technology company’s stock after selling 101 shares during the period. Sunbelt Securities Inc.’s holdings in Stryker were worth $136,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in Stryker in the 1st quarter valued at about $39,000. Accent Capital Management LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $60,000. Sachetta LLC increased its stake in shares of Stryker by 16.3% during the second 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 period. Hazlett Burt & Watson Inc. lifted its holdings in Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after purchasing an additional 40 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in Stryker by 144.6% in the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock valued at $98,000 after purchasing an additional 162 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.0 %

SYK opened at $351.61 on Friday. The company’s 50 day moving average is $349.38 and its 200-day moving average is $343.18. The company has a market cap of $133.95 billion, a P/E ratio of 40.14, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. 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 posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.91%. Stryker’s dividend payout ratio is presently 36.53%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYK. Barclays increased their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BTIG Research lifted their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Evercore ISI boosted their price target on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.37.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

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.