Stryker Corporation $SYK Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,310,122 shares of the medical technology company’s stock after selling 140,114 shares during the quarter. Fisher Asset Management LLC owned about 0.87% of Stryker worth $1,223,653,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Kovack Advisors Inc. raised its position in Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after buying an additional 27 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after acquiring an additional 27 shares during the period. Venturi Wealth Management LLC lifted its position in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Stryker by 3.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after acquiring an additional 28 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position in Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after acquiring an additional 28 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.3%

SYK opened at $387.34 on Monday. The firm’s 50 day moving average is $363.17 and its 200-day moving average is $369.09. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. 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 firm has a market capitalization of $148.23 billion, a P/E ratio of 46.11, a P/E/G ratio of 2.26 and a beta of 0.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted $4.01 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. Robert W. Baird set a $437.00 price objective on shares of Stryker in a research note on Friday, January 30th. Needham & Company LLC upped their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday, January 9th. UBS Group raised their price target on shares of Stryker from $386.00 to $400.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.