Stryker Co. (NYSE:SYK) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,450 shares of the medical technology company’s stock after selling 435 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Stryker were worth $1,357,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Stryker by 9.1% during the 2nd quarter. Pacer Advisors Inc. now owns 22,432 shares of the medical technology company’s stock worth $6,844,000 after buying an additional 1,877 shares during the last quarter. Independent Wealth Network Inc. bought a new position in Stryker during the second quarter worth $208,000. Berkshire Bank boosted its holdings in Stryker by 3.2% in the second quarter. Berkshire Bank now owns 8,008 shares of the medical technology company’s stock worth $2,443,000 after purchasing an additional 247 shares during the period. W.H. Cornerstone Investments Inc. bought a new stake in Stryker during the second quarter valued at $209,000. Finally, American National Bank raised its holdings in shares of Stryker by 20.6% during the second quarter. American National Bank now owns 32,022 shares of the medical technology company’s stock worth $9,770,000 after purchasing an additional 5,473 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Price Performance

NYSE:SYK traded down $0.75 during trading hours on Tuesday, reaching $292.47. 235,011 shares of the company’s stock were exchanged, compared to its average volume of 1,294,351. The company has a market capitalization of $111.07 billion, a P/E ratio of 41.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.95. Stryker Co. has a 12 month low of $200.80 and a 12 month high of $306.93. The business’s 50-day simple moving average is $286.90 and its two-hundred day simple moving average is $285.91. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. Stryker’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Stryker Co. will post 10.37 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s payout ratio is 42.37%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SYK shares. Bank of America raised shares of Stryker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $310.00 to $315.00 in a research report on Tuesday, September 5th. Truist Financial increased their price target on Stryker from $300.00 to $310.00 in a research report on Wednesday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. Argus increased their target price on Stryker from $285.00 to $310.00 in a research report on Thursday, May 25th. Finally, Barclays boosted their price target on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.59.

Stryker Company 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 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.