Hollencrest Capital Management Sells 150 Shares of Stryker Corporation (NYSE:SYK)

Hollencrest Capital Management decreased its position in Stryker Corporation (NYSE:SYK) by 0.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 25,287 shares of the medical technology company’s stock after selling 150 shares during the period. Hollencrest Capital Management’s holdings in Stryker were worth $9,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of SYK. Capital A Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the first quarter worth about $32,000. City Holding Co. lifted its holdings in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the period. VSM Wealth Advisory LLC purchased a new stake in Stryker in the fourth quarter worth about $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter worth about $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SYK shares. Citigroup restated a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $428.55.

Insider Activity at Stryker

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

Stryker Trading Down 0.3%

Shares of NYSE:SYK opened at $389.61 on Friday. The business’s 50-day moving average is $385.51 and its 200 day moving average is $377.73. The firm has a market capitalization of $148.71 billion, a P/E ratio of 52.74, a P/E/G ratio of 2.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. On average, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid 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 0.86%. Stryker’s dividend payout ratio is currently 45.41%.

Stryker Profile

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.