Prime Capital Investment Advisors LLC Sells 504 Shares of Stryker Co. (NYSE:SYK)

Prime Capital Investment Advisors LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,126 shares of the medical technology company’s stock after selling 504 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Stryker were worth $7,528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Precision Wealth Strategies LLC grew its position in shares of Stryker by 2.1% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in Stryker during the fourth quarter worth about $348,000. Level Four Advisory Services LLC increased its stake in Stryker by 31.0% in the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock worth $361,000 after acquiring an additional 285 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after acquiring an additional 70 shares in the last quarter. Finally, ING Groep NV raised its holdings in shares of Stryker by 9.1% in the 4th quarter. ING Groep NV now owns 46,288 shares of the medical technology company’s stock valued at $13,861,000 after acquiring an additional 3,855 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Evercore ISI lowered their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Trading Up 0.7 %

NYSE:SYK opened at $370.25 on Monday. The firm has a market capitalization of $141.09 billion, a P/E ratio of 42.27, a P/E/G ratio of 2.84 and a beta of 0.91. 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 company has a fifty day moving average of $342.26 and a 200 day moving average of $342.37. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.24.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock worth $68,330,400 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

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.