Stryker Co. (NYSE:SYK) Stake Lowered by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co decreased its position in shares of Stryker Co. (NYSE:SYK) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,510 shares of the medical technology company’s stock after selling 1,190 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Stryker were worth $23,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Precision Wealth Strategies LLC increased its holdings in Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after buying an additional 65 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Stryker during the 4th quarter worth $222,000. Gryphon Financial Partners LLC bought a new position in shares of Stryker during the 4th quarter valued at $348,000. Principal Securities Inc. acquired a new stake in shares of Stryker in the 4th quarter valued at $1,371,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Stryker by 2.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,414 shares of the medical technology company’s stock worth $1,322,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The shares were 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 of the company’s stock, valued at $949,716. 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 ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock traded up $0.92 during mid-day trading on Friday, reaching $358.92. The stock had a trading volume of 1,001,435 shares, compared to its average volume of 1,295,614. Stryker Co. has a one year low of $249.98 and a one year high of $364.36. The firm has a market cap of $136.73 billion, a PE ratio of 40.97, a P/E/G ratio of 2.78 and a beta of 0.91. The firm’s 50 day simple moving average is $339.06 and its 200 day simple moving average is $341.94. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 earnings per share. On average, analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYK shares. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group initiated coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Morgan Stanley boosted their price objective 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. Finally, Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $377.11.

About Stryker

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.