Bristlecone Advisors LLC Sells 100 Shares of Stryker Corporation (NYSE:SYK)

Bristlecone Advisors LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 9.4% during the first quarter, HoldingsChannel reports. The firm owned 966 shares of the medical technology company’s stock after selling 100 shares during the quarter. Bristlecone Advisors LLC’s holdings in Stryker were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $256,000. Legacy Financial Advisors Inc. raised its holdings in shares of Stryker by 20.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,099 shares of the medical technology company’s stock worth $396,000 after purchasing an additional 187 shares during the period. Kennedy Capital Management LLC lifted its stake in Stryker by 116.6% in the fourth quarter. Kennedy Capital Management LLC now owns 9,753 shares of the medical technology company’s stock valued at $3,512,000 after purchasing an additional 5,251 shares during the last quarter. Finally, First Foundation Advisors grew its holdings in Stryker by 6.2% during the fourth quarter. First Foundation Advisors now owns 804 shares of the medical technology company’s stock valued at $289,000 after purchasing an additional 47 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Evercore ISI boosted their price objective on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Stryker Stock Up 0.4%

SYK stock opened at $377.73 on Friday. The stock has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1-year low of $322.03 and a 1-year high of $406.19. The business has a fifty day moving average price of $387.17 and a 200-day moving average price of $380.15.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. Stryker’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $2.81 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

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.