Tyche Wealth Partners LLC Sells 198 Shares of Stryker Co. (NYSE:SYK)

Tyche Wealth Partners LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,126 shares of the medical technology company’s stock after selling 198 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Stryker were worth $407,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the last quarter. American Century Companies Inc. boosted its stake in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK traded up $3.74 during midday trading on Tuesday, hitting $359.75. 299,844 shares of the stock were exchanged, compared to its average volume of 1,241,877. The stock has a market cap of $137.05 billion, a P/E ratio of 40.65, a PEG ratio of 2.73 and a beta of 0.91. The company has a 50 day moving average price of $359.10 and a 200-day moving average price of $343.72. Stryker Co. has a twelve month low of $258.33 and a twelve month high of $374.63. 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 announced its 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. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 EPS. On average, 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 issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated 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 owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated 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 transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last three months. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC boosted their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI upped their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

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.