Sigma Planning Corp Decreases Stock Position in Stryker Co. (NYSE:SYK)

Sigma Planning Corp cut its stake in shares of Stryker Co. (NYSE:SYK) by 35.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,735 shares of the medical technology company’s stock after selling 5,278 shares during the period. Sigma Planning Corp’s holdings in Stryker were worth $2,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RE Advisers Corp purchased a new stake in Stryker during the 2nd quarter valued at $34,000. Magellan Asset Management Ltd purchased a new stake in Stryker during the 1st quarter valued at $35,000. Penserra Capital Management LLC purchased a new stake in Stryker during the 2nd quarter valued at $36,000. Albion Financial Group UT purchased a new stake in Stryker during the 2nd quarter valued at $37,000. Finally, Hanson & Doremus Investment Management grew its position in shares of Stryker by 25.3% during the 2nd quarter. Hanson & Doremus Investment Management now owns 188 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

Shares of SYK stock opened at $256.50 on Thursday. The stock has a market cap of $96.73 billion, a P/E ratio of 46.98, a PEG ratio of 3.08 and a beta of 0.98. Stryker Co. has a 52 week low of $196.09 and a 52 week high of $281.16. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The company’s fifty day simple moving average is $268.65 and its two-hundred day simple moving average is $261.19.

Stryker (NYSE:SYK) last announced its earnings results on Monday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.13. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Stryker had a net margin of 12.82% and a return on equity of 26.08%. The business’s revenue was up 55.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts anticipate that Stryker Co. will post 9.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, September 29th. Stryker’s dividend payout ratio is 33.92%.

A number of equities research analysts have recently issued reports on SYK shares. SVB Leerink boosted their price objective on shares of Stryker from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Argus boosted their price objective on shares of Stryker from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Truist boosted their price objective on shares of Stryker from $250.00 to $275.00 and gave the company a “hold” rating in a research report on Wednesday, July 28th. Oppenheimer boosted their price objective on shares of Stryker from $273.00 to $288.00 and gave the company a “market perform” rating in a research report on Wednesday, July 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday, July 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Buy” and a consensus target price of $287.13.

In related news, Director Ronda E. Stryker sold 150,000 shares of the stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $262.26, for a total value of $39,339,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert S. Fletcher sold 1,120 shares of the company’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $261.10, for a total transaction of $292,432.00. Following the completion of the transaction, the vice president now owns 4,533 shares in the company, valued at $1,183,566.30. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

About Stryker

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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