Prime Capital Investment Advisors LLC Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Prime Capital Investment Advisors LLC lowered its stake in Stryker Co. (NYSE:SYK) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,126 shares of the medical technology company’s stock after selling 504 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Stryker were worth $7,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker in the first quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Norden Group LLC bought a new stake in shares of Stryker in the 1st quarter worth $4,027,000. International Assets Investment Management LLC purchased a new position in shares of Stryker in the first quarter worth $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of SYK opened at $370.25 on Monday. The business’s 50 day simple moving average is $342.26 and its 200-day simple moving average is $342.37. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market capitalization of $141.09 billion, a price-to-earnings ratio of 42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $2.54 earnings per share. Stryker’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SYK shares. Barclays upped 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. Truist Financial cut their target price 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. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Needham & Company LLC upped their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research increased their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 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 210,600 shares of company stock valued at $68,330,400 over the last ninety days. 5.90% of the stock is owned by insiders.

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.