First Trust Advisors LP Cuts Position in Stryker Co. (SYK)

First Trust Advisors LP cut its stake in Stryker Co. (NYSE:SYK) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,334 shares of the medical technology company’s stock after selling 21,594 shares during the period. First Trust Advisors LP owned about 0.05% of Stryker worth $29,162,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SYK. Koch Industries Inc. boosted its position in Stryker by 34,120.3% during the second quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after buying an additional 1,256,991 shares during the period. Colony Group LLC boosted its position in Stryker by 20.1% during the second quarter. Colony Group LLC now owns 4,478 shares of the medical technology company’s stock valued at $621,000 after buying an additional 748 shares during the period. Covington Capital Management boosted its position in Stryker by 0.3% during the second quarter. Covington Capital Management now owns 125,520 shares of the medical technology company’s stock valued at $17,420,000 after buying an additional 326 shares during the period. Public Employees Retirement System of Ohio boosted its position in Stryker by 3.9% during the second quarter. Public Employees Retirement System of Ohio now owns 240,758 shares of the medical technology company’s stock valued at $33,412,000 after buying an additional 9,013 shares during the period. Finally, North Star Asset Management Inc. boosted its position in Stryker by 2.3% during the second quarter. North Star Asset Management Inc. now owns 87,361 shares of the medical technology company’s stock valued at $12,124,000 after buying an additional 1,979 shares during the period. Institutional investors own 74.49% of the company’s stock.

In related news, insider Graham A. Mclean sold 2,984 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total value of $479,021.52. Following the completion of the transaction, the insider now directly owns 9,100 shares of the company’s stock, valued at $1,460,823. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $163.76, for a total transaction of $818,800.00. Following the completion of the transaction, the insider now directly owns 94,253 shares of the company’s stock, valued at $15,434,871.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,840 shares of company stock valued at $2,749,989. 7.40% of the stock is owned by insiders.

SYK has been the subject of several analyst reports. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and upped their price target for the company from $161.00 to $173.00 in a research report on Thursday, November 16th. SunTrust Banks restated a “buy” rating and set a $161.00 price target on shares of Stryker in a research report on Friday, November 17th. Wells Fargo & Co upped their price target on shares of Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. Barclays upped their price target on shares of Stryker from $137.00 to $148.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. Finally, Leerink Swann upped their price target on shares of Stryker from $177.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Stryker has an average rating of “Hold” and a consensus target price of $162.50.

Shares of Stryker Co. (NYSE SYK) opened at $157.88 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29. The firm has a market cap of $59,150.00, a PE ratio of 58.91, a PEG ratio of 2.30 and a beta of 0.70. Stryker Co. has a 1-year low of $126.84 and a 1-year high of $170.00.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Stryker’s revenue was up 9.9% on a year-over-year basis. research analysts predict that Stryker Co. will post 7.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, March 28th. Stryker’s payout ratio is currently 70.15%.

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Stryker Profile

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.

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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