Stryker Co. (NYSE:SYK) Position Reduced by Dearborn Partners LLC

Dearborn Partners LLC cut its position in shares of Stryker Co. (NYSE:SYK) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,820 shares of the medical technology company’s stock after selling 3,604 shares during the quarter. Dearborn Partners LLC’s holdings in Stryker were worth $20,149,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SYK. Fisher Asset Management LLC lifted its stake in Stryker by 48,721.0% during the first quarter. Fisher Asset Management LLC now owns 1,301,567 shares of the medical technology company’s stock valued at $216,698,000 after buying an additional 1,298,901 shares in the last quarter. BlueSpruce Investments LP purchased a new stake in Stryker during the first quarter valued at about $194,038,000. Massachusetts Financial Services Co. MA lifted its stake in Stryker by 20.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock valued at $1,034,908,000 after buying an additional 1,069,721 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Stryker by 519.3% during the first quarter. 1832 Asset Management L.P. now owns 1,199,607 shares of the medical technology company’s stock valued at $196,926,000 after buying an additional 1,005,913 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in Stryker by 97.7% during the first quarter. WCM Investment Management LLC now owns 1,425,836 shares of the medical technology company’s stock valued at $237,387,000 after buying an additional 704,585 shares in the last quarter. 71.24% of the stock is owned by institutional investors.

A number of analysts have commented on SYK shares. Cowen reduced their price objective on shares of Stryker from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Argus reduced their price target on shares of Stryker from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Citigroup increased their price target on shares of Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank dropped their price objective on Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Wells Fargo & Co increased their price objective on Stryker from $201.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $216.25.

In related news, CFO Glenn S. Boehnlein sold 10,351 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the transaction, the chief financial officer now directly owns 16,321 shares of the company’s stock, valued at $3,023,302.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total value of $37,202.00. Following the completion of the transaction, the director now directly owns 17,686 shares of the company’s stock, valued at $3,289,772.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,670 shares of company stock valued at $5,775,251. 6.80% of the stock is owned by company insiders.

Shares of Stryker stock traded down $6.90 during midday trading on Friday, hitting $193.30. The company had a trading volume of 2,221,195 shares, compared to its average volume of 1,253,880. The business’s 50 day simple moving average is $186.61 and its two-hundred day simple moving average is $189.31. The stock has a market cap of $75.04 billion, a PE ratio of 45.91, a P/E/G ratio of 3.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.58 and a quick ratio of 1.77. Stryker Co. has a 1-year low of $124.54 and a 1-year high of $226.30.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. On average, sell-side analysts expect that Stryker Co. will post 6.25 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.575 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.19%. Stryker’s payout ratio is 27.85%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

See Also: CD Ladder

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.