Phraction Management LLC Has $711,000 Position in Stryker Co. (NYSE:SYK)

Phraction Management LLC reduced its holdings in Stryker Co. (NYSE:SYK) by 36.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the medical technology company’s stock after selling 1,374 shares during the period. Phraction Management LLC’s holdings in Stryker were worth $711,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SYK. Magellan Asset Management Ltd increased its stake in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Barclays PLC increased its stake in Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares in the last quarter. Morgan Stanley increased its stake in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Stryker by 24.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Stryker by 14.4% in 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 in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE SYK traded down $8.85 during trading on Wednesday, reaching $327.65. The company’s stock had a trading volume of 1,311,505 shares, compared to its average volume of 1,300,216. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $124.66 billion, a price-to-earnings ratio of 39.61, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a 50 day moving average price of $348.44 and a 200 day moving average price of $316.70.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, equities analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In other news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYK shares. Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and increased their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $353.52.

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.