XML Financial LLC Lowers Stock Position in Stryker Co. (NYSE:SYK)

XML Financial LLC lowered its position in Stryker Co. (NYSE:SYK) by 23.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,705 shares of the medical technology company’s stock after selling 810 shares during the period. XML Financial LLC’s holdings in Stryker were worth $968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Stryker by 1.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock worth $2,641,000 after buying an additional 103 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Stryker by 11.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 8,061 shares of the medical technology company’s stock worth $2,414,000 after purchasing an additional 828 shares during the period. Mayflower Financial Advisors LLC boosted its position in Stryker by 13.5% during the fourth quarter. Mayflower Financial Advisors LLC now owns 2,751 shares of the medical technology company’s stock worth $824,000 after purchasing an additional 328 shares during the period. Clarus Wealth Advisors bought a new position in Stryker during the fourth quarter worth about $208,000. Finally, apricus wealth LLC boosted its position in Stryker by 6.1% during the fourth quarter. apricus wealth LLC now owns 1,647 shares of the medical technology company’s stock worth $493,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.7 %

Stryker stock traded up $5.72 during mid-day trading on Thursday, reaching $333.17. 1,601,289 shares of the company traded hands, compared to its average volume of 1,319,311. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The firm has a market capitalization of $126.92 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 2.60 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The firm’s 50 day moving average price is $338.89 and its 200 day moving average price is $339.52.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 23.26%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.54 EPS. On average, analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were 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 was Friday, June 28th. Stryker’s payout ratio is 36.53%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYK shares. UBS Group increased their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $373.11.

Stryker 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.