Miller Financial Services LLC Sells 1,089 Shares of Stryker Corporation (NYSE:SYK)

Miller Financial Services LLC lowered its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 66.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 542 shares of the medical technology company's stock after selling 1,089 shares during the period. Miller Financial Services LLC's holdings in Stryker were worth $202,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its holdings in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after acquiring an additional 29 shares during the period. Oakworth Capital Inc. lifted its stake in Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after acquiring an additional 29 shares in the last quarter. ICW Investment Advisors LLC raised its position in Stryker by 0.6% in the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock valued at $1,745,000 after purchasing an additional 30 shares in the last quarter. Rinkey Investments grew its stake in Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after buying an additional 30 shares during the last quarter. Finally, Tritonpoint Wealth LLC lifted its holdings in shares of Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after buying an additional 30 shares during the period. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

SYK stock traded down $1.82 during midday trading on Monday, reaching $387.58. 791,681 shares of the company's stock traded hands, compared to its average volume of 1,349,256. The stock's 50-day moving average is $385.67 and its 200 day moving average is $378.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The stock has a market cap of $147.94 billion, a P/E ratio of 52.38, a PEG ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same period last year, the business earned $2.50 EPS. The company's revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on SYK shares. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $428.55.

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.