Stryker Co. (SYK) Short Interest Update

Stryker Co. (NYSE:SYK) saw a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 5,374,898 shares, a drop of 36.3% from the March 15th total of 8,444,053 shares. Based on an average trading volume of 1,188,121 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.5% of the shares of the stock are short sold.

Stryker stock opened at $164.71 on Thursday. The stock has a market cap of $60,714.48, a P/E ratio of 25.38, a P/E/G ratio of 2.33 and a beta of 0.70. Stryker has a 52 week low of $130.99 and a 52 week high of $170.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59.

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Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. sell-side analysts forecast that Stryker will post 7.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s dividend payout ratio is presently 28.97%.

A number of equities research analysts have commented on the company. Zacks Investment Research raised Stryker from a “sell” rating to a “hold” rating and set a $177.00 target price for the company in a report on Thursday, April 12th. Evercore ISI began coverage on Stryker in a report on Monday, April 2nd. They issued an “in-line” rating and a $165.00 target price for the company. Raymond James began coverage on Stryker in a research report on Thursday, March 15th. They issued an “outperform” rating and a $183.00 price target for the company. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Citigroup upgraded Stryker from a “sell” rating to a “neutral” rating and raised their price target for the company from $165.77 to $166.00 in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $165.27.

In other Stryker news, insider David Floyd sold 55,119 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $166.58, for a total value of $9,181,723.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 750 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $160.00, for a total value of $120,000.00. Following the completion of the sale, the chief financial officer now directly owns 3,535 shares of the company’s stock, valued at approximately $565,600. The disclosure for this sale can be found here. In the last three months, insiders sold 143,239 shares of company stock valued at $23,608,485. 7.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC increased its position in Stryker by 5.7% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,958 shares of the medical technology company’s stock worth $2,316,000 after purchasing an additional 804 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Stryker by 216.4% in the 4th quarter. State of Alaska Department of Revenue now owns 48,095 shares of the medical technology company’s stock worth $7,445,000 after buying an additional 32,892 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Stryker in the 4th quarter worth about $4,645,000. EP Wealth Advisors LLC boosted its stake in Stryker by 2.8% in the 4th quarter. EP Wealth Advisors LLC now owns 96,717 shares of the medical technology company’s stock worth $14,976,000 after buying an additional 2,620 shares during the last quarter. Finally, Cornerstone Capital Inc. acquired a new stake in Stryker in the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.

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Stryker Company Profile

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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