Klingman & Associates LLC Sells 988 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Klingman & Associates LLC reduced its holdings in Stryker Corporation by 35.4%, owning 1,802 shares worth $671,000 after selling 988 shares in the first quarter.
• Insider Ronda E. Stryker sold 200,000 shares for a total of approximately $75.29 million, leading to a 5.84% decrease in her ownership position.
• Stryker Corporation reported $6.02 billion in revenue for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.84 per share to be paid at the end of October.

Klingman & Associates LLC cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,802 shares of the medical technology company's stock after selling 988 shares during the period. Klingman & Associates LLC's holdings in Stryker were worth $671,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the fourth quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the first quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker during the fourth quarter valued at about $42,000. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale 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 company insiders.

Stryker Stock Down 0.1%

Shares of NYSE:SYK traded down $0.41 during trading on Thursday, reaching $378.54. 1,622,546 shares of the stock traded hands, compared to its average volume of 1,332,014. The stock has a market cap of $144.72 billion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. The stock has a 50-day moving average of $386.82 and a two-hundred day moving average of $379.68. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 earnings per share. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

About Stryker

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.