MainStreet Investment Advisors LLC Trims Position in Stryker Co. (NYSE:SYK)


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MainStreet Investment Advisors LLC lessened its stake in Stryker Co. (NYSE:SYK) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,196 shares of the medical technology company’s stock after selling 2,447 shares during the period. MainStreet Investment Advisors LLC’s holdings in Stryker were worth $6,174,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Stryker by 1.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,339,824 shares of the medical technology company’s stock worth $328,311,000 after buying an additional 13,604 shares during the period. Dupont Capital Management Corp purchased a new position in Stryker in the 4th quarter worth about $4,885,000. California Public Employees Retirement System increased its stake in Stryker by 8.0% in the 4th quarter. California Public Employees Retirement System now owns 1,447,371 shares of the medical technology company’s stock worth $354,664,000 after buying an additional 107,246 shares during the period. Addison Advisors LLC purchased a new position in Stryker in the 4th quarter worth about $383,000. Finally, Kestra Advisory Services LLC purchased a new position in Stryker in the 3rd quarter worth about $10,132,000. 71.46% of the stock is currently owned by institutional investors.

SYK stock traded up $2.23 during trading on Tuesday, reaching $245.38. The company had a trading volume of 19,757 shares, compared to its average volume of 1,291,900. The firm has a 50-day simple moving average of $240.09 and a 200-day simple moving average of $222.33. The company has a market cap of $92.31 billion, a price-to-earnings ratio of 52.31, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.15 and a current ratio of 2.89. Stryker Co. has a twelve month low of $124.54 and a twelve month high of $248.69.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 26th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Stryker had a net margin of 12.35% and a return on equity of 20.94%. Stryker’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business earned $2.49 EPS. Sell-side analysts expect that Stryker Co. will post 7.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Wednesday, March 31st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, March 30th. Stryker’s dividend payout ratio (DPR) is presently 30.51%.

In other Stryker news, CEO Kevin Lobo sold 10,697 shares of Stryker stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $236.28, for a total transaction of $2,527,487.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 2,000 shares of Stryker stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $239.10, for a total transaction of $478,200.00. Following the sale, the chief financial officer now owns 14,321 shares of the company’s stock, valued at $3,424,151.10. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

A number of research analysts have commented on SYK shares. Raymond James raised their target price on shares of Stryker from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. Credit Suisse Group cut their target price on shares of Stryker from $278.00 to $273.00 and set an “outperform” rating on the stock in a research report on Thursday, January 28th. Canaccord Genuity cut their target price on shares of Stryker from $240.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Guggenheim started coverage on shares of Stryker in a research report on Monday, January 4th. They set a “neutral” rating on the stock. Finally, BTIG Research raised their target price on shares of Stryker from $234.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, December 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $227.00.

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 that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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