Argent Trust Co decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 5.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,857 shares of the medical technology company’s stock after selling 301 shares during the quarter. Argent Trust Co’s holdings in Stryker were worth $808,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Strategic Investment Advisors MI grew its stake in shares of Stryker by 11.4% during the fourth quarter. Strategic Investment Advisors MI now owns 1,563 shares of the medical technology company’s stock valued at $328,000 after buying an additional 160 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Stryker during the fourth quarter valued at approximately $416,000. Advisor Partners LLC grew its stake in shares of Stryker by 6.5% during the fourth quarter. Advisor Partners LLC now owns 7,626 shares of the medical technology company’s stock valued at $1,577,000 after buying an additional 464 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Stryker by 10.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 5,590 shares of the medical technology company’s stock valued at $1,174,000 after buying an additional 506 shares during the last quarter. Finally, Watch Point Trust Co grew its stake in shares of Stryker by 0.4% during the fourth quarter. Watch Point Trust Co now owns 22,699 shares of the medical technology company’s stock valued at $4,766,000 after buying an additional 100 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Stryker stock traded down $0.95 during midday trading on Friday, reaching $184.14. The company had a trading volume of 1,659,719 shares, compared to its average volume of 1,767,916. The company has a market capitalization of $69.38 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.24 and a beta of 0.85. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30. The firm’s fifty day simple moving average is $180.04 and its 200-day simple moving average is $195.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.58 and a quick ratio of 1.77.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.15. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.45 billion. Stryker had a net margin of 14.47% and a return on equity of 24.90%. Stryker’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.88 EPS. On average, analysts expect that Stryker Co. will post 6.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 29th. Stryker’s dividend payout ratio (DPR) is 27.85%.
In other Stryker news, VP Katherine Ann Owen sold 3,121 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $190.81, for a total value of $595,518.01. Following the transaction, the vice president now directly owns 4,481 shares of the company’s stock, valued at approximately $855,019.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $194.32, for a total transaction of $38,864.00. Following the completion of the transaction, the director now directly owns 17,686 shares in the company, valued at $3,436,743.52. The disclosure for this sale can be found here. Insiders sold a total of 12,670 shares of company stock worth $2,380,526 over the last three months. Corporate insiders own 6.80% of the company’s stock.
A number of research analysts have recently commented on SYK shares. Deutsche Bank cut their target price on Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a research note on Wednesday, January 29th. Morgan Stanley increased their price target on Stryker from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Goldman Sachs Group downgraded Stryker from a “buy” rating to a “sell” rating and cut their price target for the stock from $248.00 to $150.00 in a research report on Wednesday, April 1st. Finally, Cfra cut their price target on Stryker from $234.00 to $231.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $214.23.
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.
Recommended Story: New Google Finance Tool and Screening Stocks
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.