Tobam Lowers Position in Stryker Co. (NYSE:SYK)

Tobam lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 44.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,099 shares of the medical technology company’s stock after selling 868 shares during the quarter. Tobam’s holdings in Stryker were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the period. Greenleaf Trust lifted its stake in Stryker by 0.6% in the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after buying an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 purchasing an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Stryker by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after purchasing an additional 29,209 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Evercore ISI dropped their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $373.84.

Stryker Stock Down 0.1 %

NYSE:SYK traded down $0.23 on Friday, reaching $357.70. The stock had a trading volume of 598,787 shares, compared to its average volume of 1,299,136. The stock has a market cap of $136.27 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.89. The company has a 50-day moving average of $336.44 and a 200 day moving average of $341.31. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. On average, research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

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.