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 lessened its position in Stryker Corporation (NYSE:SYK - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 SEC.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter worth $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker during the first quarter worth $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 worth $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker during the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker during the fourth quarter worth $42,000. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a report on Monday. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Price Performance

SYK stock traded down $5.93 during mid-day trading on Wednesday, hitting $374.93. The stock had a trading volume of 1,478,016 shares, compared to its average volume of 1,301,643. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52 week low of $319.07 and a 52 week high of $406.19. The firm has a market capitalization of $143.34 billion, a P/E ratio of 49.66, a P/E/G ratio of 2.77 and a beta of 0.91. The firm has a fifty day simple moving average of $387.49 and a 200 day simple moving average of $380.36.

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

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's 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.