Greenwood Gearhart Inc. Sells 181 Shares of Stryker Co. (NYSE:SYK)

Greenwood Gearhart Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,622 shares of the medical technology company’s stock after selling 181 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Stryker were worth $2,253,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SYK. Burkett Financial Services LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $25,000. DSM Capital Partners LLC bought a new stake in Stryker during the fourth quarter worth $34,000. Central Pacific Bank Trust Division acquired a new stake in Stryker in the first quarter valued at $39,000. Private Wealth Management Group LLC bought a new position in shares of Stryker in the 4th quarter valued at about $40,000. Finally, Accent Capital Management LLC acquired a new position in shares of Stryker during the 4th quarter worth about $60,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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. Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Wolfe Research began coverage on Stryker in a research note on Tuesday. They issued an “outperform” rating and a $405.00 price target on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,600 shares of company stock valued at $68,330,400. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $365.10 on Wednesday. The stock has a market cap of $139.13 billion, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $365.96. 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 stock has a 50 day simple moving average of $340.21 and a 200 day simple moving average of $342.04.

Stryker (NYSE:SYK) last released its earnings results 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the company posted $2.54 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, research 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. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is presently 36.53%.

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.