Brighton Jones LLC Cuts Position in Stryker Co. (NYSE:SYK)

Brighton Jones LLC cut its stake in Stryker Co. (NYSE:SYK) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,996 shares of the medical technology company’s stock after selling 157 shares during the quarter. Brighton Jones LLC’s holdings in Stryker were worth $1,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker in the 1st quarter worth $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Stryker in the 1st quarter worth $4,027,000. International Assets Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter worth $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SYK shares. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Truist Financial lowered their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. BTIG Research lifted their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Evercore ISI lowered their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following 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. In the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $364.81 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The business has a 50-day moving average price of $345.12 and a 200 day moving average price of $342.96. The firm has a market cap of $139.02 billion, a PE ratio of 41.64, a P/E/G ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Stryker Company 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.