Forum Financial Management LP Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Forum Financial Management LP decreased its position in Stryker Co. (NYSE:SYK) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,864 shares of the medical technology company’s stock after selling 99 shares during the quarter. Forum Financial Management LP’s holdings in Stryker were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BSW Wealth Partners increased its position in shares of Stryker by 43.5% in the third quarter. BSW Wealth Partners now owns 1,355 shares of the medical technology company’s stock valued at $489,000 after acquiring an additional 411 shares during the period. Latitude Advisors LLC purchased a new position in shares of Stryker during the third quarter valued at about $202,000. Janney Montgomery Scott LLC increased its position in shares of Stryker by 0.8% during the third quarter. Janney Montgomery Scott LLC now owns 64,555 shares of the medical technology company’s stock valued at $23,321,000 after buying an additional 517 shares during the period. Janney Capital Management LLC purchased a new position in shares of Stryker during the third quarter valued at about $285,000. Finally, Private Wealth Partners LLC increased its position in shares of Stryker by 2.4% during the third quarter. Private Wealth Partners LLC now owns 32,740 shares of the medical technology company’s stock valued at $11,827,000 after buying an additional 754 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

Shares of NYSE:SYK opened at $366.90 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $360.43 and a two-hundred day moving average of $344.64. The stock has a market cap of $139.87 billion, a P/E ratio of 39.32, a PEG ratio of 2.77 and a beta of 0.91. Stryker Co. has a 52-week low of $266.93 and a 52-week high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio is presently 34.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. Barclays boosted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC upped their price objective on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,068 shares of company stock worth $3,693,972. 5.50% of the stock is currently owned by company insiders.

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.