The Manufacturers Life Insurance Company trimmed its position in Stryker Co. (NYSE:SYK) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 711,718 shares of the medical technology company’s stock after selling 88,546 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.19% of Stryker worth $114,529,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Truewealth LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $110,000. Virtue Capital Management LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $133,000. Bruderman Asset Management LLC bought a new stake in shares of Stryker in the first quarter valued at about $152,000. Independence Bank of Kentucky bought a new stake in shares of Stryker in the fourth quarter valued at about $181,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Stryker by 16,028.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,129 shares of the medical technology company’s stock valued at $182,000 after purchasing an additional 1,122 shares in the last quarter. Institutional investors own 74.97% of the company’s stock.
In other Stryker news, VP Yin C. Becker sold 3,848 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $162.90, for a total transaction of $626,839.20. Following the transaction, the vice president now owns 14,641 shares of the company’s stock, valued at $2,385,018.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Floyd sold 55,119 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $166.58, for a total value of $9,181,723.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,279 shares of company stock worth $17,699,280. Company insiders own 7.30% of the company’s stock.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, April 26th. The medical technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.08. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.20 billion. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. analysts anticipate that Stryker Co. will post 7.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 28.97%.
A number of brokerages have recently commented on SYK. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup boosted their price target on Stryker from $166.00 to $171.00 and gave the company a “neutral” rating in a report on Tuesday, May 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a report on Friday, April 27th. Finally, Stifel Nicolaus boosted their price target on Stryker from $183.00 to $187.00 and gave the company a “buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Stryker currently has an average rating of “Buy” and a consensus target price of $171.60.
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 for use in various medical specialties.
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