Certified Advisory Corp Reduces Stock Position in Stryker Co. (NYSE:SYK)

Certified Advisory Corp cut its stake in shares of Stryker Co. (NYSE:SYK) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 703 shares of the medical technology company’s stock after selling 190 shares during the period. Certified Advisory Corp’s holdings in Stryker were worth $239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker in the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares during the last quarter. Norden Group LLC bought a new stake in shares of Stryker during the 1st quarter valued at $4,027,000. International Assets Investment Management LLC purchased a new stake in shares of Stryker in the 1st quarter worth $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in 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 during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.5 %

Shares of SYK opened at $366.53 on Tuesday. The business’s 50 day simple moving average is $345.88 and its 200-day simple moving average is $342.87. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market capitalization of $139.63 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

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

Stryker Announces Dividend

The business 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 0.87%. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of analysts have commented on SYK shares. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial lowered their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays upped their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.58.

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.