Carolinas Wealth Consulting LLC Reduces Holdings in Stryker Co. (NYSE:SYK)

Carolinas Wealth Consulting LLC lowered its position in Stryker Co. (NYSE:SYK) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,631 shares of the medical technology company’s stock after selling 154 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Stryker were worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new position in shares of Stryker in the first quarter worth about $795,000. Envestnet Portfolio Solutions Inc. grew its stake in Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC bought a new stake in Stryker during the 1st quarter valued at $4,027,000. International Assets Investment Management LLC bought a new stake in Stryker during the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of 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 acquiring an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. 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 insiders.

Stryker Stock Down 0.7 %

Shares of NYSE:SYK opened at $361.29 on Thursday. The firm has a fifty day moving average of $344.08 and a 200 day moving average of $342.74. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a market capitalization of $137.68 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.54 EPS. As a group, research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SYK shares. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Needham & Company LLC lifted their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.