Stryker Co. (NYSE:SYK) Shares Sold by NovaPoint Capital LLC

NovaPoint Capital LLC reduced its stake in Stryker Co. (NYSE:SYK) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,828 shares of the medical technology company’s stock after selling 104 shares during the quarter. NovaPoint Capital LLC’s holdings in Stryker were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the period. JPMorgan Chase & Co. boosted its stake in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Clearbridge Investments LLC grew its position in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after buying an additional 44,765 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after acquiring an additional 46,375 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Needham & Company LLC lifted their price objective 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. Evercore ISI increased their price objective on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays boosted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley raised their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Trading Up 2.7 %

Stryker stock opened at $369.56 on Friday. The business has a 50 day moving average price of $355.79 and a two-hundred day moving average price of $343.31. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $140.78 billion, a price-to-earnings ratio of 42.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating 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 analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s payout ratio is presently 36.53%.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by company insiders.

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.