SeaCrest Wealth Management LLC Sells 282 Shares of Stryker Co. (NYSE:SYK)

SeaCrest Wealth Management LLC decreased its position in Stryker Co. (NYSE:SYK) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,054 shares of the medical technology company’s stock after selling 282 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Stryker were worth $377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Carnegie Capital Asset Management LLC lifted its position in Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Stryker during the 4th quarter valued at approximately $1,561,000. CoreCap Advisors LLC grew its holdings in Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares during the last quarter. Consolidated Planning Corp bought a new position in Stryker in the 4th quarter worth approximately $205,000. Finally, Meritage Portfolio Management acquired a new position in shares of Stryker during the fourth quarter worth approximately $569,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore ISI cut their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group upped their price target on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup raised their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, TD Cowen boosted their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Performance

NYSE SYK opened at $332.07 on Thursday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a 50 day moving average of $337.55 and a 200-day moving average of $334.50. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a market cap of $126.50 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 2.63 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. On average, equities analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

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.