MAI Capital Management Has $43.92 Million Stake in Stryker Corporation $SYK

MAI Capital Management reduced its holdings in shares of Stryker Corporation (NYSE:SYK) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,797 shares of the medical technology company’s stock after selling 10,800 shares during the quarter. MAI Capital Management’s holdings in Stryker were worth $43,916,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after acquiring an additional 272,828 shares during the period. State Street Corp grew its position in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of 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 period. Finally, Norges Bank acquired a new stake in Stryker during the 2nd quarter worth approximately $1,882,173,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

Stryker Trading Down 0.8%

SYK opened at $381.84 on Wednesday. The company’s 50 day moving average price is $361.24 and its two-hundred day moving average price is $368.91. The firm has a market capitalization of $146.13 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 2.25 and a beta of 0.87. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.01 earnings per share. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research report on Friday, December 19th. Needham & Company LLC lifted their price objective on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. BTIG Research raised their target price on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday, January 30th. William Blair began coverage on Stryker in a report on Friday. They set an “outperform” rating for the company. Finally, Barclays reaffirmed an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.47.

About Stryker

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.