CapWealth Advisors LLC Reduces Position in Stryker Co. (NYSE:SYK)

CapWealth Advisors LLC decreased its stake in shares of Stryker Co. (NYSE:SYK) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,966 shares of the medical technology company’s stock after selling 351 shares during the period. CapWealth Advisors LLC’s holdings in Stryker were worth $11,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keybank National Association OH grew its position in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares during the period. Carnegie Capital Asset Management LLC grew its position in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after acquiring an additional 497 shares during the period. CoreCap Advisors LLC grew its position in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after acquiring an additional 191 shares during the period. DNB Asset Management AS grew its position in Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after acquiring an additional 4,143 shares during the period. Finally, LGT Capital Partners LTD. grew its position in Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock valued at $130,264,000 after acquiring an additional 85,240 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

NYSE SYK traded down $3.99 during trading hours on Thursday, reaching $332.04. The company’s stock had a trading volume of 660,557 shares, compared to its average volume of 1,244,342. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $350.57 and a 200 day simple moving average of $312.03. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a market cap of $126.33 billion, a PE ratio of 40.73, a PEG ratio of 2.72 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter last year, the company posted $3.00 earnings per share. Stryker’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. Stryker’s payout ratio is currently 38.79%.

Analyst Ratings Changes

A number of research firms have issued reports on SYK. Royal Bank of Canada boosted their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Evercore ISI boosted their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker 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.