Phraction Management LLC Trims Stake in Stryker Co. (NYSE:SYK)

Phraction Management LLC lowered its holdings in Stryker Co. (NYSE:SYK) by 36.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,374 shares of the medical technology company’s stock after selling 1,374 shares during the quarter. Phraction Management LLC’s holdings in Stryker were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Magellan Asset Management Ltd raised its position in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after purchasing an additional 679,450 shares during the period. Barclays PLC grew its stake in shares of Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after buying an additional 551,798 shares in the last quarter. Morgan Stanley grew its stake in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Stryker by 24.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after buying an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Stryker by 14.4% in the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after buying an additional 194,715 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Wednesday. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Finally, Robert W. Baird lifted their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.52.

Stryker Stock Down 2.6 %

NYSE SYK traded down $8.85 during trading on Wednesday, reaching $327.65. 1,311,505 shares of the company’s stock were exchanged, compared to its average volume of 1,300,216. The stock has a market cap of $124.66 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a 50 day moving average price of $348.44 and a two-hundred day moving average price of $316.70. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $2.14 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. In the last three months, insiders sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.50% of the company’s stock.

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.