Quantinno Capital Management LP Raises Position in Stryker Corporation $SYK

Quantinno Capital Management LP grew its holdings in Stryker Corporation (NYSE:SYK) by 32.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,788 shares of the medical technology company’s stock after acquiring an additional 44,184 shares during the period. Quantinno Capital Management LP’s holdings in Stryker were worth $59,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of SYK. Norges Bank purchased a new position in Stryker in the fourth quarter valued at $1,822,272,000. Auto Owners Insurance Co increased its holdings in Stryker by 35,047.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock worth $1,024,444,000 after purchasing an additional 2,906,448 shares during the period. Wellington Management Group LLP increased its holdings in Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Corient Private Wealth LLC raised its position in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Stryker by 241.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company’s stock valued at $511,167,000 after buying an additional 1,100,673 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 5,220 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.85, for a total value of $1,481,697.00. Following the transaction, the vice president directly owned 13,137 shares of the company’s stock, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company’s stock.

Stryker Price Performance

SYK stock opened at $352.35 on Thursday. The business has a 50 day moving average price of $316.38 and a 200 day moving average price of $335.11. The stock has a market cap of $135.08 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.22 and a beta of 0.77. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $403.22. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the business earned $2.84 earnings per share. Stryker’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Stryker Corporation will post 14.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is currently 40.74%.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Barclays lowered their price objective on Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Wells Fargo & Company decreased their price target on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Argus set a $370.00 price target on shares of Stryker in a report on Thursday, July 9th. Sanford C. Bernstein set a $410.00 price objective on shares of Stryker in a research report on Friday, May 1st. Finally, Truist Financial reaffirmed a “hold” rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $393.39.

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.