Deseret Mutual Benefit Administrators cut its position in shares of Stryker Co. (NYSE:SYK) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 702 shares of the medical technology company’s stock after selling 171 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Stryker were worth $185,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in SYK. Camden National Bank bought a new position in Stryker during the fourth quarter valued at approximately $213,000. J.W. Cole Advisors Inc. boosted its stake in Stryker by 136.5% during the second quarter. J.W. Cole Advisors Inc. now owns 2,452 shares of the medical technology company’s stock valued at $637,000 after buying an additional 1,415 shares during the last quarter. Bbva USA bought a new position in Stryker during the second quarter valued at approximately $1,788,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Stryker by 16.5% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 20,969 shares of the medical technology company’s stock valued at $5,446,000 after buying an additional 2,969 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Stryker by 31.8% in the 2nd quarter. Sei Investments Co. now owns 42,358 shares of the medical technology company’s stock valued at $11,043,000 after purchasing an additional 10,228 shares during the last quarter. 72.54% of the stock is owned by institutional investors.
SYK opened at $270.69 on Friday. The stock’s fifty day moving average is $261.59 and its two-hundred day moving average is $264.44. The company has a market capitalization of $102.08 billion, a P/E ratio of 54.46, a PEG ratio of 3.23 and a beta of 0.98. Stryker Co. has a 52 week low of $220.90 and a 52 week high of $281.16. The company has a quick ratio of 1.35, a current ratio of 2.13 and a debt-to-equity ratio of 0.89.
Stryker (NYSE:SYK) last released its quarterly earnings data on Wednesday, October 27th. The medical technology company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.08). The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Stryker had a return on equity of 25.73% and a net margin of 11.40%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.14 earnings per share. Equities analysts anticipate that Stryker Co. will post 9.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 31st. Stockholders of record on Friday, December 31st will be issued a $0.695 dividend. The ex-dividend date is Thursday, December 30th. This is an increase from Stryker’s previous quarterly dividend of $0.63. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.03%. Stryker’s dividend payout ratio (DPR) is currently 50.70%.
Several research firms have recently issued reports on SYK. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating and set a $286.00 price objective for the company. in a research note on Tuesday, September 28th. Royal Bank of Canada began coverage on Stryker in a research note on Thursday, December 9th. They issued a “sector perform” rating and a $278.00 price objective for the company. Robert W. Baird reaffirmed a “buy” rating and issued a $301.00 price objective on shares of Stryker in a research note on Friday, October 29th. Raymond James began coverage on Stryker in a research note on Tuesday, September 14th. They issued a “market perform” rating for the company. Finally, Morgan Stanley raised their price objective on Stryker from $295.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Buy” and a consensus price target of $289.50.
In other news, CFO Glenn S. Boehnlein sold 2,778 shares of Stryker stock in a transaction on Friday, December 10th. The stock was sold at an average price of $259.79, for a total value of $721,696.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Srikant M. Datar sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $263.12, for a total value of $263,120.00. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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