Smart Portfolios LLC Sells 42 Shares of Stryker Co. (NYSE:SYK)

Smart Portfolios LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,511 shares of the medical technology company’s stock after selling 42 shares during the quarter. Smart Portfolios LLC’s holdings in Stryker were worth $904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in shares of Stryker during the third quarter worth $762,798,000. Raymond James Financial Inc. acquired a new position in shares of Stryker in the 4th quarter valued at about $353,394,000. Proficio Capital Partners LLC lifted its stake in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP acquired a new position in Stryker in the 3rd quarter valued at approximately $143,392,000. Finally, State Street Corp grew its stake in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $365.35 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company’s 50-day moving average price is $382.70 and its two-hundred day moving average price is $373.40. The stock has a market cap of $139.41 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $3.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.