Stryker Co. (NYSE:SYK) Position Reduced by Rosenbaum Jay D.

Rosenbaum Jay D. reduced its stake in Stryker Co. (NYSE:SYK) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,124 shares of the medical technology company’s stock after selling 125 shares during the period. Stryker accounts for about 4.2% of Rosenbaum Jay D.’s holdings, making the stock its 3rd biggest position. Rosenbaum Jay D.’s holdings in Stryker were worth $2,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SYK. Welch Group LLC increased its position in Stryker by 1.5% during the 1st quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock worth $745,000 after purchasing an additional 54 shares in the last quarter. Westside Investment Management Inc. increased its position in Stryker by 38.7% during the 4th quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock worth $37,000 after purchasing an additional 65 shares in the last quarter. First Hawaiian Bank increased its position in Stryker by 0.5% during the 1st quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock worth $2,483,000 after purchasing an additional 67 shares in the last quarter. DAVENPORT & Co LLC increased its position in Stryker by 1.6% during the 4th quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock worth $680,000 after purchasing an additional 70 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in Stryker by 1.6% during the 4th quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock worth $705,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 74.68% of the company’s stock.

A number of research firms recently commented on SYK. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $209.00 price objective for the company in a research report on Thursday, April 25th. Canaccord Genuity lifted their price objective on Stryker from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank lifted their price objective on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer lifted their price objective on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a report on Friday, January 18th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $196.89.

Shares of NYSE:SYK traded down $0.71 during trading on Friday, reaching $187.30. 951,468 shares of the stock were exchanged, compared to its average volume of 1,534,260. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.30 and a current ratio of 2.12. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $199.85. The stock has a market capitalization of $70.15 billion, a P/E ratio of 25.62, a PEG ratio of 2.29 and a beta of 0.84.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that Stryker Co. will post 8.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.

In related news, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total transaction of $508,167.00. Following the transaction, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at approximately $4,391,503.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.62, for a total value of $5,428,828.14. Following the transaction, the vice president now directly owns 11,131 shares in the company, valued at $2,066,136.22. The disclosure for this sale can be found here. Insiders have sold a total of 111,550 shares of company stock worth $21,374,171 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

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About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

See Also: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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