Capital Wealth Planning LLC Sells 671 Shares of Stryker Co. (NYSE:SYK)

Capital Wealth Planning LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,239 shares of the medical technology company’s stock after selling 671 shares during the quarter. Capital Wealth Planning LLC’s holdings in Stryker were worth $5,185,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $25,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth approximately $39,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $34,000. Accent Capital Management LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $60,000. Finally, Sachetta LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $62,000. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other 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 owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 in the last 90 days. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. The Goldman Sachs Group started coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Finally, Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Trading Up 0.7 %

NYSE SYK opened at $370.25 on Monday. The company’s 50-day moving average price is $342.26 and its 200-day moving average price is $342.37. 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 market cap of $141.09 billion, a PE ratio of 42.27, a PEG ratio of 2.84 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.24.

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. Equities research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 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.