Harbour Investments Inc. Sells 958 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Harbour Investments Inc. reduced its stake in Stryker Corporation by 12.9%, selling 958 shares, leaving it with 6,473 shares valued at approximately $2.41 million.
• Several institutional investors significantly increased their positions in Stryker, with GAMMA Investing LLC raising its holdings by an astonishing 43,226.8%, now owning over 2 million shares valued at around $772 million.
• Stryker recently reported a quarterly earning of $3.13 per share, surpassing analyst expectations, and the company declared a dividend of $0.84 per share with an annual yield of 0.9%.

Harbour Investments Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,473 shares of the medical technology company's stock after selling 958 shares during the quarter. Harbour Investments Inc.'s holdings in Stryker were worth $2,409,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in SYK. Continuum Advisory LLC increased its stake 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 purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares during the period. Rinkey Investments raised its stake in shares of 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. Tritonpoint Wealth LLC raised its stake in shares of Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares during the last quarter. Finally, Cornerstone Advisory LLC increased its position in Stryker by 0.6% during the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock worth $2,024,000 after purchasing an additional 31 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK traded up $3.45 during trading on Monday, hitting $381.24. The company's stock had a trading volume of 1,354,523 shares, compared to its average volume of 1,306,701. The stock has a market capitalization of $145.51 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm's 50 day moving average price is $387.46 and its two-hundred day moving average price is $380.38.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker's payout ratio is presently 44.50%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Truist Financial boosted their price target on Stryker from $410.00 to $415.00 and gave the company a "hold" rating in a report on Monday. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.20% of the company's stock.

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.