Canandaigua National Corp Reduces Stake in Stryker Co. (NYSE:SYK)

Canandaigua National Corp reduced its position in Stryker Co. (NYSE:SYKGet Rating) by 7.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,667 shares of the medical technology company’s stock after selling 628 shares during the period. Canandaigua National Corp’s holdings in Stryker were worth $1,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. First Western Trust Bank acquired a new stake in Stryker during the 1st quarter valued at $1,090,886,000. Norges Bank acquired a new stake in Stryker during the 4th quarter valued at $816,519,000. Ontario Teachers Pension Plan Board grew its holdings in Stryker by 87,902.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after buying an additional 2,075,371 shares during the last quarter. Wellington Management Group LLP grew its holdings in Stryker by 11.3% during the 1st quarter. Wellington Management Group LLP now owns 15,370,391 shares of the medical technology company’s stock valued at $4,109,274,000 after buying an additional 1,561,376 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in Stryker during the 1st quarter valued at $295,397,000. 76.44% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 2.4 %

NYSE:SYK opened at $221.25 on Monday. The business’s 50-day moving average is $211.40 and its two-hundred day moving average is $228.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.00 and a quick ratio of 1.15. Stryker Co. has a 12 month low of $188.84 and a 12 month high of $280.43. The firm has a market capitalization of $83.67 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.03.

Stryker (NYSE:SYKGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The medical technology company reported $2.25 EPS 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 in the previous year, the business earned $2.25 earnings per share. Research analysts predict that Stryker Co. will post 9.38 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, September 29th. Stryker’s dividend payout ratio (DPR) is presently 51.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley lowered their target price on Stryker from $270.00 to $220.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, September 13th. Cowen decreased their price objective on Stryker from $305.00 to $233.00 and set an “outperform” rating on the stock in a report on Friday, July 22nd. BTIG Research decreased their price objective on Stryker from $244.00 to $238.00 and set a “buy” rating on the stock in a report on Tuesday, September 6th. Finally, Edward Jones upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.

About Stryker

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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.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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