Disciplined Equity Management Inc. Sells 2,390 Shares of Stryker Co. (NYSE:SYK)

Disciplined Equity Management Inc. reduced its position in shares of Stryker Co. (NYSE:SYK) by 72.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 890 shares of the medical technology company’s stock after selling 2,390 shares during the quarter. Disciplined Equity Management Inc.’s holdings in Stryker were worth $319,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SYK. Norges Bank bought a new position in shares of Stryker during the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new stake in Stryker during the 1st quarter worth approximately $341,049,000. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Stryker during the first quarter worth $93,369,000. Finally, Clearbridge Investments LLC raised its holdings in shares of Stryker by 9.7% during the fourth quarter. Clearbridge Investments LLC now owns 2,274,950 shares of the medical technology company’s stock worth $681,257,000 after acquiring an additional 200,823 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK traded up $0.75 during midday trading on Thursday, hitting $338.09. 838,370 shares of the company’s stock were exchanged, compared to its average volume of 1,282,250. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $128.80 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 2.63 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 company’s 50 day moving average price is $337.45 and its 200 day moving average price is $335.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 earnings per share. As a group, analysts predict that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SYK shares. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a report on Wednesday, May 22nd. The Goldman Sachs Group assumed coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. BTIG Research lifted their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company increased their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.32.

Stryker 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.