JTC Employer Solutions Trustee Ltd Sells 101 Shares of Stryker Co. (NYSE:SYK)

JTC Employer Solutions Trustee Ltd trimmed its stake in Stryker Co. (NYSE:SYK) by 12.9% during the first quarter, HoldingsChannel.com reports. The fund owned 680 shares of the medical technology company’s stock after selling 101 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Stryker were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Stryker in the fourth quarter valued at about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in Stryker during the 1st quarter valued at $341,049,000. Price T Rowe Associates Inc. MD raised its position in Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Stryker in the first quarter worth $93,369,000. Finally, Morgan Stanley boosted its stake in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SYK shares. Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company upped their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Citigroup raised their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Roth Mkm lifted their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.32.

Stryker Trading Down 0.7 %

Stryker stock traded down $2.23 during midday trading on Wednesday, hitting $332.07. 522,400 shares of the stock were exchanged, compared to its average volume of 1,301,508. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a fifty day simple moving average of $337.55 and a two-hundred day simple moving average of $334.50. The stock has a market capitalization of $126.50 billion, a PE ratio of 37.91, a P/E/G ratio of 2.68 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.