Highlander Capital Management LLC Grows Position in Stryker Co. (SYK)

Highlander Capital Management LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 528.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,300 shares of the medical technology company’s stock after purchasing an additional 23,800 shares during the period. Stryker accounts for about 2.7% of Highlander Capital Management LLC’s holdings, making the stock its 3rd biggest position. Highlander Capital Management LLC’s holdings in Stryker were worth $4,453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AustralianSuper Pty Ltd purchased a new position in shares of Stryker in the first quarter worth about $133,467,000. BlackRock Inc. increased its stake in shares of Stryker by 2.0% in the first quarter. BlackRock Inc. now owns 23,905,172 shares of the medical technology company’s stock worth $3,846,819,000 after purchasing an additional 458,485 shares in the last quarter. WCM Investment Management CA purchased a new position in shares of Stryker in the first quarter worth about $70,349,000. Carmignac Gestion increased its stake in shares of Stryker by 36.6% in the first quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock worth $257,451,000 after purchasing an additional 428,789 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Stryker in the fourth quarter worth about $49,056,000. 74.97% of the stock is currently owned by institutional investors.

SYK stock traded up $1.75 during trading on Thursday, hitting $168.35. 5,574 shares of the stock traded hands, compared to its average volume of 1,368,301. Stryker Co. has a 1 year low of $137.70 and a 1 year high of $179.84. The company has a market capitalization of $63.45 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, April 26th. The medical technology company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.08. Stryker had a net margin of 8.00% and a return on equity of 25.65%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm posted $1.48 EPS. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. research analysts predict that Stryker Co. will post 7.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 28th. Stryker’s dividend payout ratio is currently 28.97%.

Several equities analysts recently commented on SYK shares. Morgan Stanley boosted their price objective on shares of Stryker from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Citigroup upgraded shares of Stryker from a “sell” rating to a “neutral” rating and lifted their target price for the company from $165.77 to $166.00 in a research report on Tuesday, February 27th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Raymond James began coverage on shares of Stryker in a research report on Thursday, March 15th. They set an “outperform” rating and a $183.00 target price for the company. Finally, Evercore ISI began coverage on shares of Stryker in a research report on Monday, April 2nd. They set an “in-line” rating and a $165.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $171.95.

In other Stryker news, Chairman Kevin Lobo sold 39,808 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $162.90, for a total transaction of $6,484,723.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $166.42, for a total transaction of $832,100.00. Following the transaction, the insider now owns 101,675 shares in the company, valued at approximately $16,920,753.50. The disclosure for this sale can be found here. Insiders have sold a total of 52,160 shares of company stock worth $8,517,557 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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