Sigma Planning Corp Has $943,000 Position in Stryker Co. (NYSE:SYK)

Sigma Planning Corp lowered its position in Stryker Co. (NYSE:SYK) by 67.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,149 shares of the medical technology company’s stock after selling 6,571 shares during the period. Sigma Planning Corp’s holdings in Stryker were worth $943,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Keybank National Association OH grew its holdings in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC grew its holdings in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares during the last quarter. DNB Asset Management AS grew its holdings in Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after purchasing an additional 4,143 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its holdings in Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock valued at $130,264,000 after purchasing an additional 85,240 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Royal Bank of Canada increased their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and increased their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $340.67.

Stryker Stock Up 2.2 %

Shares of NYSE:SYK opened at $334.89 on Wednesday. Stryker Co. has a 52 week low of $249.98 and a 52 week 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’s fifty day moving average is $349.64 and its 200-day moving average is $314.08. The company has a market capitalization of $127.42 billion, a PE ratio of 40.59, a P/E/G ratio of 2.64 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating 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 company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the company earned $3.00 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. Stryker’s dividend payout ratio is presently 38.79%.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following 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. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

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.