TIAA Trust National Association Sells 897 Shares of Stryker Co. (NYSE:SYK)

TIAA Trust National Association decreased its position in Stryker Co. (NYSE:SYK) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,691 shares of the medical technology company’s stock after selling 897 shares during the quarter. TIAA Trust National Association’s holdings in Stryker were worth $26,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Stryker during the 1st quarter worth approximately $131,000. Dimensional Fund Advisors LP lifted its position in shares of Stryker by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after purchasing an additional 9,026 shares during the last quarter. Prudential PLC bought a new position in shares of Stryker in the first quarter worth about $1,444,000. Sequoia Financial Advisors LLC increased its stake in Stryker by 21.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after buying an additional 543 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in shares of Stryker by 9.2% during the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after acquiring an additional 265 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.5 %

Shares of SYK stock traded down $5.29 during trading hours on Tuesday, reaching $349.38. The company had a trading volume of 993,022 shares, compared to its average volume of 1,310,123. The stock’s fifty day simple moving average is $345.96 and its 200 day simple moving average is $306.94. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $132.93 billion, a P/E ratio of 42.35, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter last year, the company posted $3.00 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.92%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and raised their target price for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Citigroup boosted their target price on shares of Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Company increased their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Morgan Stanley boosted their price target on Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Finally, Roth Mkm raised their target price on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $331.52.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company’s stock.

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.