Shell Asset Management Co. Sells 401 Shares of Stryker Co. (NYSE:SYK)

Shell Asset Management Co. reduced its position in Stryker Co. (NYSE:SYK) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,041 shares of the medical technology company’s stock after selling 401 shares during the period. Shell Asset Management Co.’s holdings in Stryker were worth $3,975,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Norges Bank acquired a new stake in Stryker in the 4th quarter worth approximately $1,710,744,000. Raymond James Financial Inc. acquired a new stake in Stryker in the 4th quarter worth approximately $353,394,000. FMR LLC raised its position in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Proficio Capital Partners LLC raised its position in Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after buying an additional 595,061 shares during the last quarter. Finally, Northern Trust Corp raised its position in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock worth $1,298,426,000 after buying an additional 420,153 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. Canaccord Genuity Group raised their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $427.05.

Stryker Stock Up 1.6%

Shares of SYK stock opened at $392.42 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market cap of $149.78 billion, a PE ratio of 50.57, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The stock has a 50 day moving average of $366.04 and a 200-day moving average of $375.15. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

About Stryker

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.