Clearstead Trust LLC Has $4.99 Million Position in Stryker Corporation (NYSE:SYK)

Clearstead Trust LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 13,409 shares of the medical technology company’s stock after selling 236 shares during the quarter. Stryker comprises approximately 1.1% of Clearstead Trust LLC’s portfolio, making the stock its 17th largest holding. Clearstead Trust LLC’s holdings in Stryker were worth $4,991,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Allianz SE boosted its holdings in shares of Stryker by 35.5% during the first quarter. Allianz SE now owns 4,391 shares of the medical technology company’s stock worth $1,635,000 after purchasing an additional 1,151 shares during the period. Commonwealth Equity Services LLC lifted its stake in Stryker by 4.5% in the first quarter. Commonwealth Equity Services LLC now owns 166,711 shares of the medical technology company’s stock valued at $62,058,000 after acquiring an additional 7,214 shares during the last quarter. L & S Advisors Inc lifted its stake in Stryker by 7.6% in the first quarter. L & S Advisors Inc now owns 7,426 shares of the medical technology company’s stock valued at $2,764,000 after acquiring an additional 527 shares during the last quarter. CCLA Investment Management lifted its stake in Stryker by 3.2% in the first quarter. CCLA Investment Management now owns 323,990 shares of the medical technology company’s stock valued at $120,595,000 after acquiring an additional 9,903 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in Stryker by 5.2% in the first quarter. Scotia Capital Inc. now owns 99,335 shares of the medical technology company’s stock valued at $36,977,000 after acquiring an additional 4,876 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is owned by corporate insiders.

Stryker Stock Performance

Stryker stock opened at $378.62 on Monday. 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 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $144.52 billion, a PE ratio of 50.15, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50-day moving average is $387.46 and its two-hundred day moving average is $380.38.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.81 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday. BTIG Research restated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Finally, Evercore ISI boosted their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $429.35.

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.