Fishman Jay A Ltd. MI Reduces Holdings in Stryker Corporation $SYK

Fishman Jay A Ltd. MI cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,187 shares of the medical technology company’s stock after selling 1,735 shares during the quarter. Stryker makes up approximately 2.4% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 11th largest holding. Fishman Jay A Ltd. MI’s holdings in Stryker were worth $28,164,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after buying an additional 440,607 shares during the period. State Street Corp grew its stake in Stryker by 1.0% in the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after buying an additional 150,204 shares in the last quarter. Geode Capital Management LLC grew its position in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after acquiring an additional 79,654 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Finally, Norges Bank bought a new stake in Stryker in the 2nd quarter worth approximately $1,882,173,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK stock opened at $362.63 on Friday. The business’s fifty day moving average is $358.65 and its 200 day moving average is $371.05. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The stock has a market cap of $138.68 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 2.11 and a beta of 0.87. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the firm earned $4.01 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SYK shares. Evercore ISI set a $390.00 price target on shares of Stryker in a research note on Monday, January 5th. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research report on Monday, January 26th. UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Finally, Sanford C. Bernstein boosted their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.56.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.