Orleans Capital Management Corp LA Has $1.15 Million Position in Stryker Co. (NYSE:SYK)

Orleans Capital Management Corp LA trimmed its position in shares of Stryker Co. (NYSE:SYK) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,380 shares of the medical technology company’s stock after selling 445 shares during the period. Orleans Capital Management Corp LA’s holdings in Stryker were worth $1,150,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYK. Cetera Investment Advisers raised its stake in shares of Stryker by 2.5% in the second quarter. Cetera Investment Advisers now owns 89,948 shares of the medical technology company’s stock valued at $30,605,000 after purchasing an additional 2,220 shares in the last quarter. Heartland Bank & Trust Co boosted its stake in Stryker by 21.2% during the second quarter. Heartland Bank & Trust Co now owns 2,135 shares of the medical technology company’s stock worth $726,000 after buying an additional 374 shares in the last quarter. Advisory Alpha LLC increased its holdings in Stryker by 20.4% in the 2nd quarter. Advisory Alpha LLC now owns 2,304 shares of the medical technology company’s stock valued at $784,000 after buying an additional 390 shares during the period. IMS Capital Management acquired a new position in shares of Stryker in the 2nd quarter valued at $228,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Stryker by 2.4% during the 2nd quarter. EP Wealth Advisors LLC now owns 189,265 shares of the medical technology company’s stock worth $64,398,000 after acquiring an additional 4,458 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $361.26 on Tuesday. The stock has a market cap of $137.62 billion, a price-to-earnings ratio of 41.24, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $348.29 and its 200 day simple moving average is $343.00.

Stryker (NYSE:SYK) last issued its quarterly 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 net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the company earned $2.54 EPS. Stryker’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYK. Evercore ISI lowered their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Barclays boosted their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.