Gateway Investment Advisers LLC Trims Stake in Stryker Co. (NYSE:SYK)

Gateway Investment Advisers LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 73.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,200 shares of the medical technology company’s stock after selling 8,647 shares during the period. Gateway Investment Advisers LLC’s holdings in Stryker were worth $692,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYK. Nuveen Asset Management LLC grew its stake in shares of Stryker by 20,218.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock worth $533,708,000 after buying an additional 2,583,333 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Stryker by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock worth $5,496,241,000 after buying an additional 555,327 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Stryker in the 2nd quarter worth approximately $60,571,000. Janus Henderson Group PLC grew its stake in shares of Stryker by 16.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,268,453 shares of the medical technology company’s stock worth $260,765,000 after buying an additional 175,409 shares during the last quarter. Finally, Natixis grew its stake in shares of Stryker by 1,152.9% in the 2nd quarter. Natixis now owns 163,125 shares of the medical technology company’s stock worth $33,535,000 after buying an additional 150,105 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Several analysts recently weighed in on the company. Robert W. Baird upped their price target on Stryker from $206.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Morgan Stanley upped their price target on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Credit Suisse Group upped their price target on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $220.00 price target on Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Barclays set a $226.00 price target on Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $214.89.

SYK stock opened at $215.32 on Friday. The stock has a market capitalization of $80.64 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $223.45. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock’s 50 day simple moving average is $216.70 and its 200 day simple moving average is $203.65.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. On average, research analysts predict that Stryker Co. will post 8.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.

In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the transaction, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 28,690 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $220.97, for a total value of $6,339,629.30. The disclosure for this sale can be found here. Insiders sold a total of 51,637 shares of company stock worth $11,280,427 over the last ninety days. 7.20% of the stock is currently owned by insiders.

About Stryker

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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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