Stryker Co. (SYK) Holdings Cut by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC trimmed its position in Stryker Co. (NYSE:SYK) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,725 shares of the medical technology company’s stock after selling 340 shares during the period. Cornerstone Investment Partners LLC’s holdings in Stryker were worth $1,054,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its position in shares of Stryker by 4.8% during the 3rd quarter. FMR LLC now owns 5,581,594 shares of the medical technology company’s stock valued at $991,737,000 after acquiring an additional 253,732 shares during the period. Fundsmith Equity Fund L.P. bought a new position in shares of Stryker during the 2nd quarter valued at approximately $931,542,000. Capital International Investors bought a new position in shares of Stryker during the 3rd quarter valued at approximately $831,822,000. Alliancebernstein L.P. grew its position in shares of Stryker by 61.1% during the 3rd quarter. Alliancebernstein L.P. now owns 2,448,502 shares of the medical technology company’s stock valued at $435,050,000 after acquiring an additional 928,279 shares during the period. Finally, Morgan Stanley grew its position in shares of Stryker by 7.3% during the 2nd quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock valued at $389,262,000 after acquiring an additional 157,400 shares during the period. 73.30% of the stock is owned by institutional investors and hedge funds.

NYSE SYK traded down $2.32 on Friday, hitting $159.02. The stock had a trading volume of 18,432 shares, compared to its average volume of 1,454,998. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $179.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21. The stock has a market capitalization of $59.80 billion, a PE ratio of 24.51, a P/E/G ratio of 1.99 and a beta of 0.76.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. On average, research analysts anticipate that Stryker Co. will post 7.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a $0.52 dividend. The ex-dividend date is Friday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.31%. Stryker’s dividend payout ratio is currently 32.05%.

SYK has been the subject of a number of research reports. Barclays initiated coverage on shares of Stryker in a research report on Monday, October 15th. They set an “overweight” rating and a $198.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Stryker to $200.00 and gave the company an “overweight” rating in a research report on Thursday, September 13th. Evercore ISI raised shares of Stryker from an “in-line” rating to an “outperform” rating and set a $156.75 target price for the company in a research report on Wednesday, January 2nd. Morgan Stanley reduced their target price on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating for the company in a research report on Wednesday, January 2nd. Finally, Cowen set a $195.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Friday, November 9th. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $181.68.

In other news, insider Timothy J. Scannell sold 9,332 shares of the firm’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $161.60, for a total transaction of $1,508,051.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 415 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $166.56, for a total transaction of $69,122.40. The disclosure for this sale can be found here. Insiders sold a total of 12,108 shares of company stock worth $1,981,471 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

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Stryker 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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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