Bank of New York Mellon Corp Cuts Stock Position in Stryker Co. (NYSE:SYK)

Bank of New York Mellon Corp reduced its position in Stryker Co. (NYSE:SYK) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,355,571 shares of the medical technology company’s stock after selling 171,241 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.40% of Stryker worth $1,928,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYK. J. W. Coons Advisors LLC grew its holdings in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after purchasing an additional 26 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after acquiring an additional 28 shares in the last quarter. Alhambra Investment Management LLC increased its position in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after acquiring an additional 29 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 29 shares in the last quarter. Finally, Capital & Planning LLC boosted its holdings in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their target price on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Barclays boosted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

SYK stock opened at $388.11 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $148.09 billion, a P/E ratio of 50.01, a PEG ratio of 2.93 and a beta of 0.96. The business has a 50 day simple moving average of $378.38 and a 200-day simple moving average of $369.78. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 company posted $3.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 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.