Cullinan Associates Inc. Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Cullinan Associates Inc. trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,925 shares of the medical technology company’s stock after selling 1,440 shares during the period. Cullinan Associates Inc.’s holdings in Stryker were worth $2,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Czech National Bank boosted its position in Stryker by 8.1% during the third quarter. Czech National Bank now owns 69,843 shares of the medical technology company’s stock worth $25,231,000 after acquiring an additional 5,235 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Stryker by 38.7% in the third quarter. GAMMA Investing LLC now owns 2,901 shares of the medical technology company’s stock valued at $1,048,000 after purchasing an additional 810 shares during the last quarter. Diversified Trust Co lifted its position in Stryker by 5.8% during the third quarter. Diversified Trust Co now owns 14,581 shares of the medical technology company’s stock worth $5,268,000 after buying an additional 800 shares in the last quarter. Consilio Wealth Advisors LLC acquired a new position in Stryker during the third quarter worth $210,000. Finally, Miracle Mile Advisors LLC increased its stake in shares of Stryker by 569.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 5,983 shares of the medical technology company’s stock worth $2,161,000 after acquiring an additional 5,089 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Stryker Trading Down 0.1 %

Shares of SYK stock opened at $390.97 on Tuesday. The firm has a market capitalization of $149.05 billion, a PE ratio of 50.38, a P/E/G ratio of 2.78 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business’s fifty day moving average price is $376.68 and its 200 day moving average price is $363.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.5 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is presently 43.30%.

About Stryker

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.