Stryker Co. (NYSE:SYK) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,028 shares of the medical technology company’s stock after selling 487 shares during the period. Linscomb Wealth Inc.’s holdings in Stryker were worth $5,453,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC raised its holdings in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the last quarter. Aspen Investment Management Inc increased its position in shares of Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after buying an additional 31 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc grew its stake in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the period. Finally, Stanley Laman Group Ltd. lifted its position in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. Truist Financial reduced their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Barclays increased their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC boosted their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research upped their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. 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 the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock valued at $68,330,400 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 0.6 %

SYK opened at $365.10 on Wednesday. The firm has a market cap of $139.13 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $365.96. The stock has a 50-day moving average of $340.21 and a 200 day moving average of $342.04. 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 posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s payout ratio is 36.53%.

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.