Forum Financial Management LP Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Forum Financial Management LP reduced its stake in Stryker Co. (NYSE:SYK) by 5.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,864 shares of the medical technology company’s stock after selling 99 shares during the period. Forum Financial Management LP’s holdings in Stryker were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SYK. Koshinski Asset Management Inc. acquired a new position in Stryker during the first quarter worth $795,000. Envestnet Portfolio Solutions Inc. boosted its position in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares in the last quarter. Finally, M&G Plc purchased a new stake in Stryker during the first quarter worth $11,534,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup upped their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC upped their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Down 0.1 %

Shares of NYSE SYK opened at $366.90 on Tuesday. The company has a market cap of $139.87 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $374.63. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $360.43 and its 200 day simple moving average is $344.64.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio is presently 34.30%.

Insider Transactions at Stryker

In other news, 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade 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, 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade 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 firm’s stock in a transaction 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,068 shares of company stock valued at $3,693,972 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

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.