Gateway Investment Advisers LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,422 shares of the medical technology company’s stock after selling 762 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Stryker were worth $2,454,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Stryker by 4.1% in the fourth quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock valued at $3,900,399,000 after acquiring an additional 975,678 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Stryker by 8,029.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 6,000,739 shares in the last quarter. FMR LLC raised its holdings in Stryker by 6.3% in the fourth quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock valued at $930,251,000 after acquiring an additional 353,028 shares in the last quarter. Northern Trust Corp raised its holdings in Stryker by 3.6% in the fourth quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock valued at $604,647,000 after acquiring an additional 132,857 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Stryker by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after acquiring an additional 224,785 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.
In related news, VP Michael Damon Hutchinson sold 3,936 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $194.10, for a total value of $763,977.60. Following the completion of the transaction, the vice president now owns 12,841 shares in the company, valued at approximately $2,492,438.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy J. Scannell sold 5,282 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $163.50, for a total transaction of $863,607.00. The disclosure for this sale can be found here. Insiders sold a total of 131,071 shares of company stock valued at $24,689,161 in the last quarter. 7.20% of the stock is currently owned by insiders.
SYK stock opened at $192.67 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 2.02. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The stock has a market capitalization of $72.88 billion, a P/E ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.88.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.03. Stryker had a net margin of 26.12% and a return on equity of 27.60%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.73 billion. As a group, research analysts forecast that Stryker Co. will post 8.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.08%. Stryker’s dividend payout ratio is presently 28.45%.
SYK has been the topic of several recent analyst reports. BTIG Research upped their price target on shares of Stryker to $211.00 and gave the company a “buy” rating in a report on Monday, March 18th. Evercore ISI raised shares of Stryker from an “in-line” rating to an “outperform” rating and set a $156.75 price target on the stock in a report on Wednesday, January 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Stryker in a report on Friday, March 1st. Morgan Stanley cut their price target on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Finally, SunTrust Banks upped their price target on shares of Stryker to $205.00 and gave the company a “positive” rating in a report on Monday, February 4th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $191.76.
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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