Stryker Co. (NYSE:SYK) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,341 shares of the medical technology company’s stock after selling 174 shares during the quarter. Van ECK Associates Corp’s holdings in Stryker were worth $3,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares during the period. FMR LLC boosted its holdings in shares of Stryker by 2.5% in the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the last quarter. Morgan Stanley grew its stake in shares of Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares during the period. Northern Trust Corp increased its holdings in shares of Stryker by 3.9% during the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after buying an additional 131,590 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Stryker by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock worth $475,614,000 after buying an additional 40,736 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.6 %

Shares of SYK opened at $328.45 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The stock has a 50-day moving average price of $346.99 and a 200 day moving average price of $317.97. The company has a market capitalization of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 EPS. Sell-side analysts forecast that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is currently 36.53%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. Citigroup raised their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Stifel Nicolaus boosted their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Roth Mkm lifted their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.94.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.