Brookstone Capital Management Sells 49 Shares of Stryker Co. (NYSE:SYK)

Brookstone Capital Management lessened its stake in shares of Stryker Co. (NYSE:SYK) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,388 shares of the medical technology company’s stock after selling 49 shares during the quarter. Brookstone Capital Management’s holdings in Stryker were worth $863,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SYK. Reliant Investment Management LLC grew its holdings in Stryker by 0.9% during the third quarter. Reliant Investment Management LLC now owns 15,200 shares of the medical technology company’s stock valued at $5,491,000 after purchasing an additional 138 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in Stryker by 32.7% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 446 shares of the medical technology company’s stock worth $161,000 after acquiring an additional 110 shares during the period. Atomi Financial Group Inc. lifted its position in Stryker by 2.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 2,091 shares of the medical technology company’s stock worth $755,000 after acquiring an additional 47 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Stryker by 2.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 2,990 shares of the medical technology company’s stock valued at $1,080,000 after acquiring an additional 67 shares during the period. Finally, Blue Zone Wealth Advisors LLC grew its position in shares of Stryker by 3.1% in the third quarter. Blue Zone Wealth Advisors LLC now owns 20,669 shares of the medical technology company’s stock valued at $7,467,000 after purchasing an additional 627 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $355.60 on Friday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The company has a 50 day moving average of $351.84 and a 200-day moving average of $343.05. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market cap of $135.47 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. 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 90 days. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Evercore ISI increased their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Barclays raised their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, BTIG Research upped their price objective 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 analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $379.37.

Stryker Company 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.