Redmond Asset Management LLC Sells 297 Shares of Stryker Co. (NYSE:SYK)

Redmond Asset Management LLC cut its stake in Stryker Co. (NYSE:SYK) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,795 shares of the medical technology company’s stock after selling 297 shares during the period. Stryker accounts for 1.0% of Redmond Asset Management LLC’s portfolio, making the stock its 27th biggest position. Redmond Asset Management LLC’s holdings in Stryker were worth $2,425,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Founders Capital Management LLC boosted its holdings in Stryker by 3.9% in the second quarter. Founders Capital Management LLC now owns 10,887 shares of the medical technology company’s stock valued at $2,238,000 after acquiring an additional 411 shares during the last quarter. Clarus Wealth Advisors boosted its holdings in shares of Stryker by 19.3% during the 2nd quarter. Clarus Wealth Advisors now owns 2,111 shares of the medical technology company’s stock worth $434,000 after buying an additional 342 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its holdings in shares of Stryker by 1.1% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 11,663 shares of the medical technology company’s stock worth $2,304,000 after buying an additional 123 shares in the last quarter. MainStreet Investment Advisors LLC boosted its holdings in shares of Stryker by 3.9% during the 1st quarter. MainStreet Investment Advisors LLC now owns 15,532 shares of the medical technology company’s stock worth $3,067,000 after buying an additional 589 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Stryker by 2.9% during the 1st quarter. Advisory Services Network LLC now owns 15,004 shares of the medical technology company’s stock worth $2,963,000 after buying an additional 423 shares in the last quarter. Institutional investors and hedge funds own 73.48% of the company’s stock.

SYK has been the topic of a number of research analyst reports. Credit Suisse Group increased their price target on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird increased their price target on Stryker from $206.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Svb Leerink restated an “outperform” rating on shares of Stryker in a report on Wednesday, July 10th. Finally, Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $214.89.

In related news, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the sale, the insider now directly owns 155,963 shares of the company’s stock, valued at approximately $32,109,662.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the sale, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at $4,418,763.28. The disclosure for this sale can be found here. Insiders sold a total of 15,431 shares of company stock valued at $3,174,489 over the last three months. 7.20% of the stock is currently owned by insiders.

Shares of SYK traded up $3.35 during trading hours on Thursday, reaching $215.41. The stock had a trading volume of 16,381 shares, compared to its average volume of 1,090,678. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $222.59. The stock’s 50-day moving average is $210.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The firm has a market cap of $81.21 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the business earned $1.76 EPS. Stryker’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Stryker Co. will post 8.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio is currently 28.45%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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