Ensign Peak Advisors Inc Cuts Stock Position in Stryker Co. (NYSE:SYK)

Ensign Peak Advisors Inc trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 722,677 shares of the medical technology company’s stock after selling 52,441 shares during the period. Ensign Peak Advisors Inc owned 0.19% of Stryker worth $245,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $25,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the first quarter worth $39,000. Accent Capital Management LLC purchased a new position in shares of Stryker in the fourth quarter valued at $60,000. Finally, Sachetta LLC increased its stake in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the 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 completion of the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’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 sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Barclays upped their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. UBS Group raised their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Down 0.1 %

NYSE:SYK opened at $364.81 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $345.12 and a 200-day moving average of $342.96. The firm has a market capitalization of $139.02 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 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.