Short Interest in Stryker Co. (NYSE:SYK) Grows By 10.8%

Stryker Co. (NYSE:SYK) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 3,910,000 shares, an increase of 10.8% from the December 31st total of 3,530,000 shares. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.1% of the company’s stock are short sold.

NYSE:SYK opened at $213.83 on Friday. The firm has a market cap of $78.82 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.33 and a beta of 0.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.35 and a current ratio of 2.58. Stryker has a fifty-two week low of $174.84 and a fifty-two week high of $223.45. The firm has a 50-day simple moving average of $210.10 and a two-hundred day simple moving average of $211.48.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.11 billion. Stryker had a net margin of 13.99% and a return on equity of 25.75%. Stryker’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. On average, equities research analysts predict that Stryker will post 9.09 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, December 30th. This is an increase from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio (DPR) is presently 27.85%.

In related news, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $206.28, for a total value of $962,502.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SYK. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $35,000. Hudock Capital Group LLC boosted its holdings in shares of Stryker by 123.5% during the 4th quarter. Hudock Capital Group LLC now owns 181 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 100 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. Horan Capital Advisors LLC. purchased a new stake in shares of Stryker during the 3rd quarter valued at about $43,000. Finally, Institutional & Family Asset Management LLC boosted its holdings in shares of Stryker by 169.3% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 202 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 127 shares during the last quarter. 73.35% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on SYK. Stifel Nicolaus increased their price target on shares of Stryker from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Thursday, November 28th. BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Thursday. SunTrust Banks began coverage on shares of Stryker in a research note on Tuesday, January 7th. They issued a “hold” rating and a $217.00 price target for the company. Finally, Bank of America increased their price target on shares of Stryker from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Stryker currently has an average rating of “Buy” and a consensus target price of $227.45.

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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