Dupont Capital Management Corp Sells 534 Shares of Stryker Co. (NYSE:SYK)

Dupont Capital Management Corp reduced its holdings in Stryker Co. (NYSE:SYKGet Rating) by 30.6% in the third quarter, HoldingsChannel reports. The firm owned 1,211 shares of the medical technology company’s stock after selling 534 shares during the period. Dupont Capital Management Corp’s holdings in Stryker were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SYK. Ontario Teachers Pension Plan Board grew its stake in Stryker by 22.9% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,554,244 shares of the medical technology company’s stock valued at $508,116,000 after acquiring an additional 476,512 shares during the period. Legal & General Group Plc grew its stake in Stryker by 2.2% in the second quarter. Legal & General Group Plc now owns 2,484,857 shares of the medical technology company’s stock valued at $494,315,000 after acquiring an additional 53,790 shares during the period. Mackenzie Financial Corp grew its stake in Stryker by 8.8% in the second quarter. Mackenzie Financial Corp now owns 2,309,931 shares of the medical technology company’s stock valued at $459,515,000 after acquiring an additional 186,134 shares during the period. Clearbridge Investments LLC grew its stake in Stryker by 664.0% in the second quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company’s stock valued at $437,497,000 after acquiring an additional 1,911,376 shares during the period. Finally, WCM Investment Management LLC boosted its position in shares of Stryker by 11.1% during the third quarter. WCM Investment Management LLC now owns 1,934,283 shares of the medical technology company’s stock valued at $397,457,000 after buying an additional 192,878 shares during the last quarter. 77.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on SYK shares. Canaccord Genuity Group cut Stryker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $225.00 to $220.00 in a research report on Tuesday, November 1st. Canaccord Genuity Group lowered Stryker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $225.00 to $220.00 in a research note on Tuesday, November 1st. Wells Fargo & Company boosted their price objective on Stryker from $248.00 to $281.00 and gave the company an “overweight” rating in a research note on Monday, December 12th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Finally, Morgan Stanley boosted their price objective on Stryker from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.68.

Stryker Price Performance

SYK opened at $259.82 on Tuesday. The stock has a 50-day moving average price of $239.25 and a 200-day moving average price of $221.46. Stryker Co. has a 12-month low of $188.84 and a 12-month high of $279.28. The company has a current ratio of 2.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $98.32 billion, a P/E ratio of 40.41, a PEG ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYKGet Rating) last posted its quarterly earnings data on Monday, October 31st. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.12). Stryker had a return on equity of 22.27% and a net margin of 13.69%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. Stryker’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 9.17 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be issued a $0.75 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, December 29th. Stryker’s dividend payout ratio is presently 46.66%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 340 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $219.68, for a total transaction of $74,691.20. Following the completion of the sale, the vice president now directly owns 12,774 shares in the company, valued at approximately $2,806,192.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Srikant M. Datar sold 300 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $212.36, for a total transaction of $63,708.00. Following the completion of the sale, the director now directly owns 4,861 shares in the company, valued at approximately $1,032,281.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 340 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $219.68, for a total value of $74,691.20. Following the sale, the vice president now owns 12,774 shares of the company’s stock, valued at $2,806,192.32. The disclosure for this sale can be found here. In the last three months, insiders sold 80,079 shares of company stock worth $19,354,832. 6.50% of the stock is currently owned by corporate insiders.

Stryker Profile

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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