Tectonic Advisors LLC Has $828,000 Position in Stryker Co. (NYSE:SYK)

Tectonic Advisors LLC lowered its holdings in Stryker Co. (NYSE:SYK) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,291 shares of the medical technology company’s stock after selling 171 shares during the quarter. Tectonic Advisors LLC’s holdings in Stryker were worth $828,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Centennial Bank AR grew its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter valued at $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter valued at $42,000. Grove Bank & Trust boosted its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC boosted its holdings in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 2.0 %

Shares of Stryker stock opened at $352.82 on Friday. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The stock’s 50-day simple moving average is $358.50 and its 200 day simple moving average is $343.70. The stock has a market capitalization of $134.41 billion, a P/E ratio of 40.28, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYK. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Evercore ISI lifted their price objective on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

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.