Taylor Cottrill Erickson & Associates Inc. trimmed its position in Stryker Co. (NYSE:SYK) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,334 shares of the medical technology company’s stock after selling 115 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Stryker were worth $5,109,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SYK. Vanguard Group Inc. lifted its position in shares of Stryker by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock valued at $5,496,241,000 after buying an additional 555,327 shares in the last quarter. State Street Corp lifted its position in shares of Stryker by 1.7% during the 3rd quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock valued at $2,918,870,000 after buying an additional 229,189 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Stryker by 20,218.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after buying an additional 2,583,333 shares in the last quarter. Morgan Stanley lifted its position in shares of Stryker by 3.4% during the 2nd quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock valued at $375,547,000 after buying an additional 59,305 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Stryker by 15.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,346,967 shares of the medical technology company’s stock valued at $291,349,000 after buying an additional 180,043 shares in the last quarter. 73.16% of the stock is currently owned by institutional investors and hedge funds.
NYSE SYK opened at $206.98 on Tuesday. The stock’s 50 day moving average is $206.80 and its 200 day moving average is $210.98. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. Stryker Co. has a 12 month low of $157.43 and a 12 month high of $223.45. The stock has a market cap of $78.43 billion, a PE ratio of 28.31, a P/E/G ratio of 2.34 and a beta of 0.76.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.01. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the firm earned $1.69 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Stryker Co. will post 8.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.575 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.11%. Stryker’s payout ratio is presently 31.46%.
In other Stryker news, CEO Kevin Lobo sold 19,286 shares of Stryker stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total value of $4,160,183.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $206.28, for a total value of $962,502.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,318 shares of company stock worth $6,706,338. Corporate insiders own 7.20% of the company’s stock.
SYK has been the topic of a number of analyst reports. SunTrust Banks initiated coverage on Stryker in a research report on Tuesday, January 7th. They set a “hold” rating and a $217.00 price objective on the stock. Evercore ISI raised Stryker from an “in-line” rating to an “outperform” rating in a research report on Thursday, January 2nd. Deutsche Bank initiated coverage on Stryker in a research report on Friday, January 3rd. They set a “buy” rating and a $179.00 price objective on the stock. Bank of America lifted their price objective on Stryker from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler cut Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Stryker presently has an average rating of “Buy” and a consensus target price of $222.16.
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.
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