Fayez Sarofim & Co Lowers Stock Position in Stryker Co. (NYSE:SYK)

Fayez Sarofim & Co cut its stake in shares of Stryker Co. (NYSE:SYK – Get Rating) by 56.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,124 shares of the medical technology company’s stock after selling 1,471 shares during the quarter. Fayez Sarofim & Co’s holdings in Stryker were worth $228,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new stake in shares of Stryker during the 3rd quarter valued at $41,000. Old North State Trust LLC acquired a new position in shares of Stryker during the 3rd quarter valued at $46,000. Hallmark Capital Management Inc. acquired a new position in shares of Stryker during the 3rd quarter valued at $48,000. Webster Bank N. A. lifted its holdings in shares of Stryker by 123.2% during the 3rd quarter. Webster Bank N. A. now owns 250 shares of the medical technology company’s stock valued at $51,000 after acquiring an additional 138 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its holdings in shares of Stryker by 3,862.5% during the 3rd quarter. Western Pacific Wealth Management LP now owns 317 shares of the medical technology company’s stock valued at $64,000 after acquiring an additional 309 shares in the last quarter. 77.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, insider James Andrew Pierce sold 400 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $277.88, for a total transaction of $111,152.00. Following the completion of the sale, the insider now owns 46,676 shares of the company’s stock, valued at approximately $12,970,326.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ronda E. Stryker sold 307,800 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $273.91, for a total transaction of $84,309,498.00. Following the completion of the sale, the director now owns 4,942,954 shares of the company’s stock, valued at approximately $1,353,924,530.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Andrew Pierce sold 400 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $277.88, for a total transaction of $111,152.00. Following the completion of the transaction, the insider now owns 46,676 shares of the company’s stock, valued at approximately $12,970,326.88. The disclosure for this sale can be found here. Insiders sold a total of 357,410 shares of company stock valued at $97,831,003 in the last quarter. Insiders own 6.50% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $275.69 on Wednesday. The firm has a market cap of $104.44 billion, a PE ratio of 44.68, a price-to-earnings-growth ratio of 2.72 and a beta of 0.93. The firm’s 50-day simple moving average is $262.50 and its 200-day simple moving average is $237.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.63. Stryker Co. has a 1 year low of $188.84 and a 1 year high of $284.00.

Stryker (NYSE:SYK – Get Rating) last issued its earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.16. Stryker had a net margin of 12.78% and a return on equity of 22.39%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts forecast that Stryker Co. will post 10.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 30th. Stryker’s dividend payout ratio is presently 48.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Stryker from $260.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Canaccord Genuity Group lifted their target price on shares of Stryker from $220.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. Cowen lifted their target price on shares of Stryker from $233.00 to $283.00 in a report on Wednesday, December 14th. Cowen boosted their price objective on shares of Stryker from $233.00 to $283.00 in a report on Wednesday, December 14th. Finally, Citigroup boosted their price objective on shares of Stryker from $282.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.00.

Stryker Company Profile

(Get Rating)

Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.