AustralianSuper Pty Ltd Sells 1,660 Shares of Stryker Co. (NYSE:SYK)

AustralianSuper Pty Ltd lessened its stake in Stryker Co. (NYSE:SYK) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 534,416 shares of the medical technology company’s stock after selling 1,660 shares during the quarter. AustralianSuper Pty Ltd owned 0.14% of Stryker worth $193,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in Stryker in the first quarter worth about $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. Grove Bank & Trust increased its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC boosted its holdings in shares of Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Royal Bank of Canada upped their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $392.60.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock traded down $2.66 during midday trading on Thursday, reaching $360.77. 197,025 shares of the stock traded hands, compared to its average volume of 1,250,550. The stock has a market cap of $137.44 billion, a P/E ratio of 41.49, a PEG ratio of 2.73 and a beta of 0.91. The stock’s fifty day moving average is $359.79 and its 200-day moving average is $343.98. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12 month low of $264.85 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company earned $2.46 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

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.