Middleton & Co. Inc. MA Sells 743 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Middleton & Co. Inc. MA reduced its holdings in Stryker Corporation by 3.2%, selling 743 shares, leaving it with 22,816 shares valued at approximately $8.49 million.
• Stryker's recent quarterly earnings showed an EPS of $3.13, exceeding analyst estimates of $3.07, with a revenue increase of 11.1% year-over-year.
• Equities analysts have set a target price averaging $430.10 for Stryker's stock, with most ratings categorized as a "buy".

Middleton & Co. Inc. MA lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,816 shares of the medical technology company's stock after selling 743 shares during the period. Middleton & Co. Inc. MA's holdings in Stryker were worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SYK. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Stryker in the 4th quarter worth about $328,000. Prudential PLC raised its holdings in shares of Stryker by 1.6% in the 4th quarter. Prudential PLC now owns 6,732 shares of the medical technology company's stock worth $2,424,000 after acquiring an additional 104 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Stryker by 3.9% in the 4th quarter. Federated Hermes Inc. now owns 118,515 shares of the medical technology company's stock worth $42,671,000 after acquiring an additional 4,470 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Stryker by 1.1% in the 4th quarter. Bank of Montreal Can now owns 549,836 shares of the medical technology company's stock worth $197,969,000 after acquiring an additional 5,749 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of Stryker stock traded up $1.36 on Friday, hitting $377.73. 972,332 shares of the company traded hands, compared to its average volume of 1,333,167. The firm's 50-day simple moving average is $387.17 and its 200 day simple moving average is $380.15. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $144.41 billion, a P/E ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 12-month low of $322.03 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $2.81 EPS. 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. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYK shares. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $430.10.

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.