Destiny Wealth Partners LLC Has $14.85 Million Holdings in Stryker Co. (NYSE:SYK)

Destiny Wealth Partners LLC cut its stake in Stryker Co. (NYSE:SYK) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,115 shares of the medical technology company’s stock after selling 6,173 shares during the period. Stryker makes up about 2.6% of Destiny Wealth Partners LLC’s portfolio, making the stock its 7th biggest holding. Destiny Wealth Partners LLC’s holdings in Stryker were worth $14,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter worth $42,000. Grove Bank & Trust boosted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares in the last quarter. Finally, Sachetta LLC grew its position in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.5 %

Shares of NYSE SYK opened at $357.23 on Wednesday. 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 business has a 50-day moving average of $353.45 and a 200-day moving average of $342.96. The firm has a market capitalization of $136.13 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 EPS. Sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 35.67%.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. UBS Group raised their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Evercore ISI increased their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, BTIG Research boosted their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Stryker Company 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.