PDS Planning Inc Lowers Position in Stryker Co. (NYSE:SYK)

PDS Planning Inc decreased its position in Stryker Co. (NYSE:SYK) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,279 shares of the medical technology company’s stock after selling 39 shares during the period. PDS Planning Inc’s holdings in Stryker were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Magellan Asset Management Ltd boosted its holdings in shares of Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Barclays PLC boosted its holdings in shares of Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after acquiring an additional 551,798 shares in the last quarter. Morgan Stanley boosted its holdings in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after buying an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after buying an additional 194,715 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on SYK shares. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Canaccord Genuity Group raised shares of 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 report on Wednesday, January 31st. TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Evercore ISI upped their price target on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker Trading Up 1.1 %

NYSE:SYK traded up $3.50 during trading hours on Tuesday, reaching $331.18. 445,343 shares of the company were exchanged, compared to its average volume of 1,266,634. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market cap of $126.00 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 2.62 and a beta of 0.89. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a 50 day simple moving average of $349.74 and a 200 day simple moving average of $313.59.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating 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 business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter last year, the firm posted $3.00 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is presently 38.79%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last three months, insiders sold 212,109 shares of company stock valued at $72,845,768. Corporate insiders own 5.50% of the company’s stock.

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.