Hendershot Investments Inc. Cuts Holdings in Stryker Co. (SYK)

Hendershot Investments Inc. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 6.8% during the 1st quarter, HoldingsChannel reports. The fund owned 16,318 shares of the medical technology company’s stock after selling 1,190 shares during the period. Hendershot Investments Inc.’s holdings in Stryker were worth $3,223,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Welch Group LLC lifted its position in Stryker by 1.5% in the 1st quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after acquiring an additional 54 shares in the last quarter. Independence Bank of Kentucky lifted its position in Stryker by 4.9% in the 1st quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after acquiring an additional 55 shares in the last quarter. Benedict Financial Advisors Inc. lifted its position in Stryker by 1.1% in the 1st quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after acquiring an additional 57 shares in the last quarter. 1ST Source Bank lifted its position in Stryker by 3.5% in the 1st quarter. 1ST Source Bank now owns 1,760 shares of the medical technology company’s stock valued at $348,000 after acquiring an additional 60 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Stryker by 38.7% in the 4th quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 65 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of SYK opened at $184.14 on Monday. The firm has a market cap of $68.70 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 2.24 and a beta of 0.84. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $199.85.

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

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.13%. Stryker’s dividend payout ratio is presently 28.45%.

Several equities analysts recently issued reports on SYK shares. Barclays set a $203.00 price objective on Stryker and gave the company a “buy” rating in a research report on Friday, March 8th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research report on Monday, February 4th. BTIG Research upped their price objective on Stryker to $211.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Canaccord Genuity upped their price objective on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. Finally, Deutsche Bank upped their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $196.85.

In other news, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $186.25, for a total value of $869,042.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the completion of the sale, the vice president now owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,216 shares of company stock valued at $22,245,359. Company insiders own 7.20% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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