Van ECK Associates Corp Reduces Position in Stryker Co. (NYSE:SYK)

Van ECK Associates Corp decreased its position in Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,341 shares of the medical technology company’s stock after selling 174 shares during the period. Van ECK Associates Corp’s holdings in Stryker were worth $3,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd increased its holdings in Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares during the period. Barclays PLC boosted its holdings in shares of Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after acquiring an additional 551,798 shares during the last quarter. Morgan Stanley increased its stake in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after purchasing an additional 194,715 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $328.45 on Monday. The stock has a 50 day moving average of $346.99 and a two-hundred day moving average of $317.97. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market cap of $125.12 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts expect that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Roth Mkm lifted their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays upped their price objective on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Finally, Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.94.

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.