South State CORP. Cuts Stock Position in Stryker Co. (NYSE:SYK)

South State CORP. cut its holdings in Stryker Co. (NYSE:SYK) by 0.8% in the first quarter, Holdings Channel reports. The institutional investor owned 12,228 shares of the medical technology company’s stock after selling 100 shares during the quarter. South State CORP.’s holdings in Stryker were worth $2,978,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Curi Capital purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $29,000. RWM Asset Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $33,000. Albion Financial Group UT purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $34,000. Ossiam increased its position in shares of Stryker by 294.9% in the fourth quarter. Ossiam now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 115 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. purchased a new stake in shares of Stryker during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 72.31% of the company’s stock.

SYK stock opened at $256.48 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.27 and a quick ratio of 1.39. The stock has a market cap of $96.63 billion, a P/E ratio of 69.56, a PEG ratio of 2.92 and a beta of 0.96. Stryker Co. has a 12-month low of $171.75 and a 12-month high of $268.04. The company has a fifty day moving average price of $254.74.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Monday, April 26th. The medical technology company reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.06). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Stryker had a net margin of 9.57% and a return on equity of 21.90%. Stryker’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. Sell-side analysts expect that Stryker Co. will post 9.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 30th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. Stryker’s dividend payout ratio is presently 33.92%.

In other Stryker news, VP M Kathryn Fink sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 107,795 shares of the company’s stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $255.79, for a total value of $27,572,883.05. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Several analysts recently commented on SYK shares. Canaccord Genuity boosted their price target on Stryker from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. Cowen boosted their price target on Stryker from $255.00 to $279.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. JPMorgan Chase & Co. boosted their price target on Stryker from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 24th. Raymond James boosted their price target on Stryker from $255.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Finally, Wells Fargo & Company boosted their price target on Stryker from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $268.18.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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