Trexquant Investment LP lowered its stake in Stryker Co. (NYSE:SYK) by 75.4% in the first quarter, Holdings Channel reports. The institutional investor owned 5,610 shares of the medical technology company’s stock after selling 17,217 shares during the period. Trexquant Investment LP’s holdings in Stryker were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Stryker by 0.6% in the first quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock worth $4,945,168,000 after buying an additional 153,391 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of 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 worth $39,000 after buying an additional 6,000,739 shares during the last quarter. FMR LLC raised its holdings in shares of Stryker by 6.3% in the fourth quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after buying an additional 353,028 shares during the last quarter. Fundsmith LLP raised its holdings in shares of Stryker by 1.0% in the first quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after buying an additional 52,688 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Stryker by 1.2% in the first quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock worth $771,036,000 after buying an additional 46,183 shares during the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.
In related news, VP Yin C. Becker sold 15,240 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the sale, the vice president now owns 16,577 shares in the company, valued at $3,282,743.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $186.71, for a total transaction of $871,188.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,303 shares of company stock worth $15,947,489. 7.20% of the stock is owned by company insiders.
SYK has been the subject of several recent research reports. Deutsche Bank raised their target price on shares of Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Zacks Investment Research cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on shares of Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Finally, Oppenheimer raised their target price on shares of Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Stryker has an average rating of “Buy” and an average price target of $196.75.
SYK stock opened at $195.47 on Friday. The firm has a market cap of $72.93 billion, a P/E ratio of 26.03, a PEG ratio of 2.38 and a beta of 0.81. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. Stryker Co. has a one year low of $144.75 and a one year high of $199.85.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. Research analysts predict that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.06%. Stryker’s dividend payout ratio is presently 28.45%.
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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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