Ninety One UK Ltd Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Ninety One UK Ltd trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 16.6% during the fourth quarter, HoldingsChannel reports. The firm owned 76,702 shares of the medical technology company’s stock after selling 15,289 shares during the quarter. Ninety One UK Ltd’s holdings in Stryker were worth $22,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after purchasing an additional 143,631 shares during the period. Morgan Stanley raised its stake in shares of Stryker by 21.7% during the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares during the period. FMR LLC raised its stake in shares of Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares during the period. Geode Capital Management LLC raised its stake in shares of Stryker by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after purchasing an additional 117,786 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Stryker by 3.9% during the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after purchasing an additional 131,590 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYK has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Evercore ISI boosted their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Roth Mkm boosted their price objective on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $340.45.

Stryker Stock Down 2.6 %

Shares of NYSE SYK opened at $327.46 on Friday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $124.59 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.71 and a beta of 0.89. The business has a 50-day moving average of $350.34 and a 200-day moving average of $312.14.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.