Middleton & Co. Inc. MA Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Middleton & Co. Inc. MA lessened its stake in Stryker Co. (NYSE:SYK) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,560 shares of the medical technology company’s stock after selling 763 shares during the period. Middleton & Co. Inc. MA’s holdings in Stryker were worth $8,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division acquired a new stake in Stryker in the first quarter valued at approximately $39,000. DSM Capital Partners LLC purchased a new position in Stryker in the fourth quarter worth $34,000. Accent Capital Management LLC acquired a new position in shares of Stryker during the fourth quarter worth $60,000. Finally, Sachetta LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $62,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SYK has been the topic of several research analyst reports. Evercore ISI dropped their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays boosted their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Finally, Needham & Company LLC upped their price target 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. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Price Performance

Shares of SYK opened at $361.29 on Thursday. The company has a market capitalization of $137.68 billion, a P/E ratio of 41.24, a P/E/G ratio of 2.87 and a beta of 0.91. The business’s 50-day moving average is $344.08 and its two-hundred day moving average is $342.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $2.54 earnings per share. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. 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 is currently 36.53%.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.