IndexIQ Advisors LLC Sells 176 Shares of Stryker Co. (NYSE:SYK)

IndexIQ Advisors LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,692 shares of the medical technology company’s stock after selling 176 shares during the quarter. IndexIQ Advisors LLC’s holdings in Stryker were worth $3,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Canton Hathaway LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $30,000. West Branch Capital LLC acquired a new stake in Stryker in the 2nd quarter worth about $32,000. Lenox Wealth Advisors LLC acquired a new stake in Stryker in the 3rd quarter worth about $34,000. Destiny Wealth Partners LLC acquired a new stake in Stryker in the 3rd quarter worth about $35,000. Finally, Penserra Capital Management LLC acquired a new stake in Stryker in the 2nd quarter worth about $36,000. Institutional investors own 73.28% of the company’s stock.

SYK opened at $266.71 on Friday. The stock has a market cap of $100.58 billion, a P/E ratio of 53.66, a P/E/G ratio of 2.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.13 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $261.02 and its 200 day simple moving average is $265.15. Stryker Co. has a 1-year low of $220.90 and a 1-year high of $281.16.

Stryker (NYSE:SYK) last issued its earnings results on Wednesday, October 27th. The medical technology company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.08). Stryker had a return on equity of 25.73% and a net margin of 11.40%. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 9.1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, December 31st will be paid a $0.695 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.63. This represents a $2.78 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, December 30th. Stryker’s payout ratio is presently 55.94%.

Several brokerages have recently commented on SYK. Royal Bank of Canada began coverage on shares of Stryker in a research report on Thursday, December 9th. They issued a “sector perform” rating and a $278.00 target price for the company. Loop Capital initiated coverage on shares of Stryker in a research note on Monday, December 6th. They issued a “buy” rating and a $305.00 price objective on the stock. Robert W. Baird reiterated a “buy” rating and set a $301.00 target price on shares of Stryker in a research report on Friday, October 29th. Morgan Stanley lowered shares of Stryker from an “overweight” rating to an “equal weight” rating and set a $305.00 target price for the company. in a research note on Friday, January 7th. They noted that the move was a valuation call. Finally, SVB Leerink reiterated an “outperform” rating on shares of Stryker in a research report on Friday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $293.74.

In other Stryker news, CFO Glenn S. Boehnlein sold 2,778 shares of Stryker stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $259.79, for a total transaction of $721,696.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Srikant M. Datar sold 1,000 shares of the business’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $263.12, for a total transaction of $263,120.00. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

Stryker Company Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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