State Street Corp Reduces Holdings in Stryker Co. (NYSE:SYK)

State Street Corp lowered its position in Stryker Co. (NYSE:SYKGet Rating) by 0.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,818,807 shares of the medical technology company’s stock after selling 92,229 shares during the period. State Street Corp’s holdings in Stryker were worth $3,703,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LGT Group Foundation grew its stake in Stryker by 307.9% during the 1st quarter. LGT Group Foundation now owns 7,101 shares of the medical technology company’s stock valued at $1,910,000 after acquiring an additional 5,360 shares in the last quarter. Freestone Capital Holdings LLC grew its position in shares of Stryker by 13.6% in the first quarter. Freestone Capital Holdings LLC now owns 1,701 shares of the medical technology company’s stock valued at $455,000 after purchasing an additional 204 shares in the last quarter. Compass Financial Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $562,000. Spears Abacus Advisors LLC lifted its position in Stryker by 31.9% during the fourth quarter. Spears Abacus Advisors LLC now owns 2,511 shares of the medical technology company’s stock worth $671,000 after buying an additional 608 shares in the last quarter. Finally, Peak Asset Management LLC boosted its stake in Stryker by 0.6% during the first quarter. Peak Asset Management LLC now owns 54,321 shares of the medical technology company’s stock worth $14,523,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 76.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SYK shares. Cowen reduced their price target on Stryker from $305.00 to $233.00 and set an “outperform” rating on the stock in a report on Friday, July 22nd. Edward Jones raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Citigroup dropped their price target on shares of Stryker from $310.00 to $280.00 in a research note on Tuesday, May 17th. Morgan Stanley reduced their price target on shares of Stryker from $270.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Finally, Bank of America lowered Stryker from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.57.

Stryker Trading Up 4.4 %

Shares of NYSE SYK opened at $230.00 on Friday. The stock has a fifty day simple moving average of $208.94 and a 200-day simple moving average of $230.49. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $280.43. The company has a current ratio of 2.00, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $86.97 billion, a PE ratio of 42.36, a PEG ratio of 2.79 and a beta of 1.03.

Stryker (NYSE:SYKGet Rating) last released its earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.03). Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same period last year, the company earned $2.25 earnings per share. On average, equities analysts forecast that Stryker Co. will post 9.38 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.695 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.78 dividend on an annualized basis and a yield of 1.21%. Stryker’s dividend payout ratio (DPR) is presently 51.20%.

Stryker Profile

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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