Mascoma Wealth Management LLC Sells 55 Shares of Stryker Co. (NYSE:SYK)

Mascoma Wealth Management LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 31.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119 shares of the medical technology company’s stock after selling 55 shares during the period. Mascoma Wealth Management LLC’s holdings in Stryker were worth $40,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Stryker during the 4th quarter valued at $1,260,562,000. Global Assets Advisory LLC purchased a new stake in shares of Stryker during the first quarter worth about $341,049,000. JPMorgan Chase & Co. increased its holdings in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 0.2 %

Shares of SYK opened at $360.30 on Thursday. The firm has a market cap of $137.26 billion, a P/E ratio of 41.13, a PEG ratio of 2.78 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36. The stock’s 50 day moving average is $338.34 and its two-hundred day moving average is $341.80. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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 analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. BTIG Research lifted their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Evercore ISI lowered their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $373.84.

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.