Stryker Co. (NYSE:SYK) Position Reduced by Advisory Services Network LLC

Advisory Services Network LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,486 shares of the medical technology company’s stock after selling 201 shares during the quarter. Advisory Services Network LLC’s holdings in Stryker were worth $6,616,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Stryker in the 4th quarter worth about $1,260,562,000. Global Assets Advisory LLC bought a new position in shares of Stryker in the 1st quarter worth about $341,049,000. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Stryker in the 1st quarter worth about $93,369,000. Finally, Clearbridge Investments LLC lifted its position in shares of Stryker by 9.7% in the 4th quarter. Clearbridge Investments LLC now owns 2,274,950 shares of the medical technology company’s stock worth $681,257,000 after buying an additional 200,823 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. TD Cowen raised their price target 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. Evercore ISI dropped their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. UBS Group increased their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Roth Mkm increased their price objective on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, 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 report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Price Performance

Shares of SYK traded up $0.84 during mid-day trading on Friday, hitting $338.93. The company’s stock had a trading volume of 236,518 shares, compared to its average volume of 1,274,387. The firm has a 50-day moving average price of $337.68 and a 200 day moving average price of $335.97. The stock has a market capitalization of $129.12 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for 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 business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. On average, research analysts predict that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

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.