Shell Asset Management Co. Sells 9,262 Shares of Stryker Corporation $SYK

Shell Asset Management Co. cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 56.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,253 shares of the medical technology company’s stock after selling 9,262 shares during the quarter. Shell Asset Management Co.’s holdings in Stryker were worth $2,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Twin Tree Management LP acquired a new stake in Stryker in the second quarter valued at $806,000. Angeles Wealth Management LLC grew its position in shares of Stryker by 17.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $603,000 after acquiring an additional 221 shares during the period. Stratos Wealth Advisors LLC increased its stake in shares of Stryker by 2.6% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 4,533 shares of the medical technology company’s stock worth $1,794,000 after purchasing an additional 114 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC increased its stake in shares of Stryker by 3.7% during the 2nd quarter. AssuredPartners Investment Advisors LLC now owns 1,111 shares of the medical technology company’s stock worth $440,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $366.02 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market cap of $140.07 billion, a price-to-earnings ratio of 43.57, a P/E/G ratio of 2.14 and a beta of 0.87. The stock’s fifty day moving average price is $358.00 and its two-hundred day moving average price is $369.35. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period last year, the firm earned $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Insider Activity

In other news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SYK shares. Sanford C. Bernstein lifted their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Needham & Company LLC raised their price objective on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company boosted their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.