Curbstone Financial Management Corp Decreases Stake in Stryker Co. (NYSE:SYK)

Curbstone Financial Management Corp reduced its stake in shares of Stryker Co. (NYSE:SYK) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,124 shares of the medical technology company’s stock after selling 44 shares during the period. Curbstone Financial Management Corp’s holdings in Stryker were worth $767,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker in the 1st quarter worth about $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Stryker in the 1st quarter worth about $4,027,000. International Assets Investment Management LLC purchased a new stake in shares of Stryker in the 1st quarter worth about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after buying an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SYK. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial cut their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

Insider Transactions at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’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 owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker 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 in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Down 1.0 %

NYSE SYK opened at $351.61 on Friday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The company has a 50-day moving average of $349.38 and a 200-day moving average of $343.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $133.99 billion, a P/E ratio of 40.14, a P/E/G ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 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.