Financial Management Professionals Inc. Sells 36 Shares of Stryker Co. (NYSE:SYK)

Financial Management Professionals Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 454 shares of the medical technology company’s stock after selling 36 shares during the period. Financial Management Professionals Inc.’s holdings in Stryker were worth $164,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Centennial Bank AR raised its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter valued at about $42,000. Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 2.0 %

Shares of SYK stock opened at $352.82 on Friday. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week high of $374.63. The firm has a market capitalization of $134.41 billion, a PE ratio of 40.28, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock’s 50-day simple moving average is $358.80 and its 200-day simple moving average is $343.67.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 EPS. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $381.16.

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.