Quantinno Capital Management LP Boosts Holdings in Stryker Corporation $SYK

Quantinno Capital Management LP lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 32.3% in the first quarter, HoldingsChannel reports. The firm owned 180,788 shares of the medical technology company’s stock after acquiring an additional 44,184 shares during the period. Quantinno Capital Management LP’s holdings in Stryker were worth $59,405,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SYK. Varma Mutual Pension Insurance Co raised its position in shares of Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company’s stock valued at $18,842,000 after acquiring an additional 5,100 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Stryker by 7.4% in the fourth quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company’s stock worth $21,281,000 after purchasing an additional 4,186 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in Stryker by 41.3% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 50,123 shares of the medical technology company’s stock valued at $17,617,000 after purchasing an additional 14,641 shares during the last quarter. Swedbank AB raised its holdings in shares of Stryker by 6.6% during the fourth quarter. Swedbank AB now owns 129,027 shares of the medical technology company’s stock worth $45,349,000 after purchasing an additional 7,934 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Stryker by 31.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company’s stock worth $9,426,000 after purchasing an additional 6,367 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 1.7%

Stryker stock opened at $352.35 on Thursday. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $403.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The stock has a market capitalization of $135.08 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. The firm has a 50 day simple moving average of $316.38 and a 200-day simple moving average of $335.11.

Stryker (NYSE:SYK) last released its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the previous year, the firm earned $2.84 earnings per share. Stryker’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Stryker Corporation will post 14.99 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio is currently 40.74%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 5,220 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the sale, the vice president owned 13,137 shares in the company, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 310,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 323,264 shares of company stock worth $100,659,489 in the last quarter. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. Robert W. Baird set a $385.00 target price on shares of Stryker in a report on Friday, May 1st. Argus set a $370.00 target price on Stryker in a report on Thursday, July 9th. Needham & Company LLC dropped their price target on Stryker from $454.00 to $418.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and set a $361.00 price objective on shares of Stryker in a research report on Friday, May 1st. Finally, Leerink Partners lowered their price objective on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.39.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.