First Manhattan Co. cut its stake in Stryker Corporation (NYSE:SYK) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 281,345 shares of the medical technology company’s stock after selling 7,650 shares during the quarter. First Manhattan Co. owned approximately 0.08% of Stryker worth $43,563,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Stryker by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after acquiring an additional 657,656 shares during the period. BlackRock Inc. lifted its holdings in Stryker by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after acquiring an additional 1,139,082 shares during the period. Jensen Investment Management Inc. lifted its holdings in Stryker by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after acquiring an additional 251,685 shares during the period. Legal & General Group Plc lifted its holdings in Stryker by 2.8% in the third quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock valued at $256,393,000 after acquiring an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Stryker by 4.8% in the third quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock valued at $247,536,000 after acquiring an additional 79,551 shares during the period. 74.91% of the stock is owned by institutional investors.
Shares of Stryker Corporation (NYSE:SYK) opened at $162.52 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker Corporation has a 12-month low of $119.17 and a 12-month high of $164.20. The company has a market capitalization of $60,820.00, a P/E ratio of 34.65, a P/E/G ratio of 2.31 and a beta of 0.78.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts predict that Stryker Corporation will post 6.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.16%. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s payout ratio is presently 40.09%.
A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a report on Saturday. Piper Jaffray Companies boosted their price target on Stryker from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Royal Bank of Canada reissued a “buy” rating and issued a $175.00 price target on shares of Stryker in a report on Tuesday, January 9th. Cowen set a $166.00 price target on Stryker and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $156.60.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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