State of Tennessee Treasury Department decreased its stake in shares of Stryker Co. (NYSE:SYK) by 46.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 118,259 shares of the medical technology company’s stock after selling 103,269 shares during the quarter. State of Tennessee Treasury Department’s holdings in Stryker were worth $18,311,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of SYK. Sawyer & Company Inc bought a new position in Stryker during the fourth quarter valued at approximately $125,000. Sit Investment Associates Inc. lifted its position in Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the period. San Francisco Sentry Investment Group CA lifted its position in Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 325 shares during the period. Oak Point Wealth Management bought a new position in Stryker during the fourth quarter valued at approximately $145,000. Finally, Dubuque Bank & Trust Co. bought a new position in Stryker during the fourth quarter valued at approximately $164,000. Institutional investors own 74.49% of the company’s stock.
In related news, Director Howard E. Cox, Jr. sold 7,400 shares of Stryker stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $164.09, for a total transaction of $1,214,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Graham A. Mclean sold 2,984 shares of Stryker stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total transaction of $479,021.52. Following the sale, the insider now owns 9,100 shares of the company’s stock, valued at approximately $1,460,823. The disclosure for this sale can be found here. Insiders sold a total of 16,840 shares of company stock valued at $2,749,989 in the last 90 days. Company insiders own 7.40% of the company’s stock.
A number of brokerages recently weighed in on SYK. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and issued a $170.00 price target on shares of Stryker in a research report on Wednesday, January 31st. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating in a research report on Friday, November 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $163.00 price objective on shares of Stryker in a research note on Friday, January 5th. Finally, Guggenheim reissued a “buy” rating on shares of Stryker in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $162.50.
Shares of Stryker Co. (NYSE SYK) opened at $161.70 on Friday. The stock has a market cap of $59,553.09, a PE ratio of 60.34, a PEG ratio of 2.29 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 2.29 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $127.19 and a twelve month high of $170.00.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. research analysts expect that Stryker Co. will post 7.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.16%. Stryker’s dividend payout ratio (DPR) is presently 70.15%.
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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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