Hollencrest Capital Management Has $8.66 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Hollencrest Capital Management lowered its position in shares of Stryker Co. (NYSE:SYK) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,436 shares of the medical technology company’s stock after selling 1,010 shares during the quarter. Hollencrest Capital Management’s holdings in Stryker were worth $8,655,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bridges Investment Management Inc. grew its holdings in shares of Stryker by 335.4% in the 2nd quarter. Bridges Investment Management Inc. now owns 66,628 shares of the medical technology company’s stock valued at $22,670,000 after acquiring an additional 51,327 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Stryker by 49.8% during the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Stryker by 0.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 133,846 shares of the medical technology company’s stock valued at $45,541,000 after purchasing an additional 557 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of Stryker by 6.0% in the 2nd quarter. Ieq Capital LLC now owns 34,960 shares of the medical technology company’s stock valued at $11,895,000 after buying an additional 1,983 shares during the last quarter. Finally, Bright Financial Advisors Inc. bought a new position in shares of Stryker in the second quarter valued at $5,811,000. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred 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 sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s 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 directly owns 10,042 shares in the company, valued at $3,715,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Evercore ISI dropped their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial decreased their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Finally, Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Stock Up 1.0 %

Shares of NYSE SYK opened at $364.97 on Friday. The company has a market cap of $139.08 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 2.87 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The stock has a 50-day moving average price of $344.61 and a two-hundred day moving average price of $342.90.

Stryker (NYSE:SYK) last issued 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 business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 EPS. As a group, analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

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.