Stryker Co. (NYSE:SYK) Shares Sold by Eagle Ridge Investment Management
Eagle Ridge Investment Management trimmed its holdings in Stryker Co. (NYSE:SYK) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,776 shares of the medical technology company’s stock after selling 515 shares during the period. Stryker accounts for approximately 1.4% of Eagle Ridge Investment Management’s holdings, making the stock its 25th largest holding. Eagle Ridge Investment Management’s holdings in Stryker were worth $9,616,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Sigma Planning Corp lifted its stake in shares of Stryker by 5.3% in the 2nd quarter. Sigma Planning Corp now owns 10,821 shares of the medical technology company’s stock valued at $2,225,000 after purchasing an additional 544 shares in the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Stryker in the 2nd quarter valued at about $50,000. Watch Point Trust Co lifted its stake in shares of Stryker by 8.8% in the 2nd quarter. Watch Point Trust Co now owns 23,190 shares of the medical technology company’s stock valued at $4,768,000 after purchasing an additional 1,878 shares in the last quarter. Executive Wealth Management LLC lifted its stake in shares of Stryker by 1.3% in the 2nd quarter. Executive Wealth Management LLC now owns 13,403 shares of the medical technology company’s stock valued at $2,755,000 after purchasing an additional 177 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Stryker in the 2nd quarter valued at about $93,000. 73.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:SYK traded up $2.73 during mid-day trading on Thursday, hitting $214.79. 20,921 shares of the company traded hands, compared to its average volume of 1,090,678. The firm has a market capitalization of $81.21 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 2.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $222.59. The stock’s 50 day moving average price is $210.23.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is currently 28.45%.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the sale, the chief financial officer now directly owns 20,633 shares in the company, valued at approximately $4,418,763.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $197.68, for a total value of $922,374.88. Following the sale, the insider now owns 155,347 shares in the company, valued at $30,708,994.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,431 shares of company stock worth $3,174,489. Company insiders own 7.20% of the company’s stock.
SYK has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Credit Suisse Group lifted their price objective on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets set a $216.00 price objective on Stryker and gave the company a “hold” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $214.89.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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