Stryker Co. (NYSE:SYK) Short Interest Up 14.1% in November

Stryker Co. (NYSE:SYK) was the recipient of a significant increase in short interest in November. As of November 29th, there was short interest totalling 3,800,000 shares, an increase of 14.1% from the November 14th total of 3,330,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is presently 2.9 days.

SYK traded up $3.16 on Friday, reaching $202.93. 1,027,782 shares of the company traded hands, compared to its average volume of 1,273,814. Stryker has a one year low of $144.75 and a one year high of $223.45. The firm has a fifty day simple moving average of $205.13 and a two-hundred day simple moving average of $208.47. The company has a market cap of $74.07 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.75. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.01. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.58 billion. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS. On average, equities analysts forecast that Stryker will post 8.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.575 per share. This is an increase from Stryker’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.13%. Stryker’s dividend payout ratio (DPR) is 28.45%.

SYK has been the subject of a number of recent research reports. Barclays cut shares of Stryker from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $226.00 to $207.00 in a research note on Tuesday, November 5th. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Thursday, November 28th. Robert W. Baird lifted their price objective on shares of Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity lifted their price objective on shares of Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price objective on shares of Stryker from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Stryker currently has a consensus rating of “Buy” and an average target price of $218.19.

In related news, VP Katherine Ann Owen sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $216.30, for a total transaction of $540,750.00. Following the completion of the transaction, the vice president now directly owns 5,349 shares of the company’s stock, valued at $1,156,988.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $218.51, for a total transaction of $1,019,567.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,174 shares of company stock valued at $14,606,285. Corporate insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Resources Management Corp CT ADV purchased a new position in shares of Stryker in the 3rd quarter worth approximately $3,025,000. Institutional & Family Asset Management LLC grew its position in shares of Stryker by 169.3% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 202 shares of the medical technology company’s stock worth $44,000 after buying an additional 127 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Stryker by 2.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 65,626 shares of the medical technology company’s stock worth $14,195,000 after buying an additional 1,671 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $4,589,000. Finally, IHT Wealth Management LLC grew its position in shares of Stryker by 23.4% in the 3rd quarter. IHT Wealth Management LLC now owns 1,280 shares of the medical technology company’s stock worth $277,000 after buying an additional 243 shares during the last quarter. 73.23% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: What is a capital gain?

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.