Harbor Investment Advisory LLC Decreases Holdings in Stryker Co. (NYSE:SYK)

Harbor Investment Advisory LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 6,889 shares of the medical technology company’s stock after selling 69 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Stryker were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Aspen Investment Management Inc grew its position in shares of Stryker by 0.7% in the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after buying an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its position in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC raised its position in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Truist Financial cut their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, BTIG Research boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Price Performance

SYK stock traded down $0.39 during trading on Friday, hitting $351.22. The stock had a trading volume of 676,931 shares, compared to its average volume of 1,270,464. The company’s 50-day moving average price is $349.77 and its two-hundred day moving average price is $343.16. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The stock has a market capitalization of $133.80 billion, a P/E ratio of 40.09, a PEG ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last released 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 business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Stryker Co. will post 12 EPS 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 issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.91%. Stryker’s 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.