Newfound Research LLC Sells 135 Shares of Stryker Co. (NYSE:SYK)

Newfound Research LLC reduced its stake in Stryker Co. (NYSE:SYKGet Rating) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 442 shares of the medical technology company’s stock after selling 135 shares during the period. Newfound Research LLC’s holdings in Stryker were worth $88,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Stryker by 0.9% during the first quarter. Vanguard Group Inc. now owns 28,898,295 shares of the medical technology company’s stock valued at $7,725,958,000 after buying an additional 245,614 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 11.3% during the first quarter. Wellington Management Group LLP now owns 15,370,391 shares of the medical technology company’s stock valued at $4,109,274,000 after buying an additional 1,561,376 shares during the last quarter. State Street Corp grew its holdings in shares of Stryker by 3.0% during the fourth quarter. State Street Corp now owns 13,911,036 shares of the medical technology company’s stock valued at $3,729,638,000 after buying an additional 402,204 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Stryker by 5.1% during the first quarter. Capital Research Global Investors now owns 10,403,668 shares of the medical technology company’s stock valued at $2,781,432,000 after buying an additional 502,935 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in shares of Stryker during the first quarter valued at about $1,090,886,000. 76.44% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK traded down $5.36 during midday trading on Friday, hitting $203.52. The company’s stock had a trading volume of 49,506 shares, compared to its average volume of 1,343,231. The stock has a fifty day moving average price of $213.01 and a 200 day moving average price of $228.11. Stryker Co. has a one year low of $188.84 and a one year high of $280.43. The company has a current ratio of 2.00, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $76.96 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 2.58 and a beta of 1.03.

Stryker (NYSE:SYKGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.02). Stryker had a net margin of 11.79% and a return on equity of 23.34%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the firm earned $2.25 EPS. On average, research analysts forecast that Stryker Co. will post 9.38 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, September 29th. Stryker’s dividend payout ratio (DPR) is currently 51.20%.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Stryker from $270.00 to $220.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Bank of America cut shares of Stryker from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. BTIG Research cut their price target on shares of Stryker from $244.00 to $238.00 and set a “buy” rating on the stock in a report on Tuesday, September 6th. Truist Financial boosted their price target on shares of Stryker to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Stifel Nicolaus cut their price target on shares of Stryker from $285.00 to $245.00 in a report on Monday, July 18th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $256.29.

Stryker Profile

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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