Curbstone Financial Management Corp Decreases Stryker Co Stake (NYSE:SYK)

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Curbstone Financial Management Corp reduced its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,124 shares of the medical technology company’s stock after selling 44 shares during the period. Curbstone Financial Management Corp’s holdings in Stryker were worth $767,000 at the end of the most recent reporting period.

Other institutional investors have recently modified their positions in the company. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Stryker in the 1st quarter worth about $4,027,000. International Assets Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab AS grew its position in shares of Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab AS now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares during the last quarter. 77.09% of the shares are currently held by hedge funds and other institutional investors.

Wall Street analysts weigh in

Several research firms have recently commented on SYK. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial cut their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st . Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $379.37, according to MarketBeat.com.

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Insider trading at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s 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 of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of shares are currently owned by company insiders.

Stryker trades down 1.0%

NYSE SYK opened at $351.61 on Friday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a 50-day moving average of $349.38 and a 200-day moving average of $343.18. 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 company has a market cap of $133.99 billion, a P/E ratio of 40.14, a P/E/G ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK – Get Your Free Report ) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. In the same quarter in the previous year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% year-over-year. As a group, equities analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a dividend of $3.20 on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30. Stryker’s payout ratio is currently 36.53%.

About Stryker

(Free Report)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopedics and Spine. The Orthopedics and Spine segment provides implants for use in total joint replacement, such as hip, knee and shoulder surgery, as well as trauma and extremity surgery.