Ferguson Wellman Capital Management Inc. Reduces Holdings in Stryker Co. (NYSE:SYK)

Ferguson Wellman Capital Management Inc. lessened its position in Stryker Co. (NYSE:SYK) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,530 shares of the medical technology company’s stock after selling 533 shares during the period. Stryker accounts for 1.2% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 24th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $61,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SYK. State Street Corp increased its stake in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. FMR LLC increased its position in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its stake in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new position in Stryker in the 3rd quarter worth about $762,798,000. Finally, Janus Henderson Group PLC increased its stake in Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after purchasing an additional 28,421 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYK shares. UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $419.37.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $391.42 on Monday. The stock has a 50-day moving average price of $377.23 and a 200 day moving average price of $364.97. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The stock has a market capitalization of $149.22 billion, a P/E ratio of 50.44, a P/E/G ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the business earned $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

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.