Ninety One SA PTY Ltd Trims Holdings in Stryker Co. (NYSE:SYK)

Ninety One SA PTY Ltd trimmed its position in Stryker Co. (NYSE:SYK) by 37.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,549 shares of the medical technology company’s stock after selling 913 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Stryker were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Freedom Wealth Alliance LLC purchased a new position in shares of Stryker in the fourth quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Quarry LP purchased a new position in shares of Stryker in the first quarter worth about $27,000. HBC Financial Services PLLC purchased a new position in shares of Stryker in the fourth quarter worth about $37,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Stryker in the fourth quarter worth about $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYK shares. Royal Bank of Canada raised their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday. TD Cowen lifted their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Evercore ISI lifted their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.45.

Stryker Price Performance

Shares of NYSE:SYK traded down $8.77 during trading on Thursday, reaching $327.26. The stock had a trading volume of 1,193,477 shares, compared to its average volume of 1,250,812. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The business has a fifty day moving average price of $350.57 and a 200-day moving average price of $312.03. The stock has a market cap of $124.51 billion, a PE ratio of 39.89, a PEG ratio of 2.72 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. On average, equities analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is presently 38.79%.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Company Profile

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.