Linscomb Wealth Inc. Lowers Position in Stryker Co. (NYSE:SYK)

Linscomb Wealth Inc. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,028 shares of the medical technology company’s stock after selling 487 shares during the quarter. Linscomb Wealth Inc.’s holdings in Stryker were worth $5,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division purchased a new position in Stryker in the 1st quarter worth approximately $39,000. DSM Capital Partners LLC bought a new position in shares of Stryker during the fourth quarter valued at about $34,000. Private Wealth Management Group LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $40,000. Finally, Accent Capital Management LLC bought a new stake in shares of Stryker during the 4th quarter valued at about $60,000. 77.09% of the stock is 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 reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Barclays upped their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group started coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. BTIG Research upped their price target on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Price Performance

SYK stock opened at $365.10 on Wednesday. The business has a 50 day moving average price of $340.21 and a 200 day moving average price of $342.04. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $365.96. 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 stock has a market cap of $139.13 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 earnings per share. Equities research analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’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 $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock valued at $68,330,400 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.