Stryker Corporation (SYK) Position Reduced by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. cut its stake in Stryker Corporation (NYSE:SYK) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,058 shares of the medical technology company’s stock after selling 3,387 shares during the period. Stryker accounts for about 1.4% of Dana Investment Advisors Inc.’s portfolio, making the stock its 20th largest position. Dana Investment Advisors Inc. owned about 0.06% of Stryker worth $30,259,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SYK. Marco Investment Management LLC raised its position in Stryker by 10.4% during the 3rd quarter. Marco Investment Management LLC now owns 70,875 shares of the medical technology company’s stock worth $10,066,000 after buying an additional 6,685 shares during the last quarter. Baker Chad R raised its position in Stryker by 3.9% during the 3rd quarter. Baker Chad R now owns 18,070 shares of the medical technology company’s stock worth $2,567,000 after buying an additional 670 shares during the last quarter. Guardian Capital LP raised its position in Stryker by 4.1% during the 3rd quarter. Guardian Capital LP now owns 124,492 shares of the medical technology company’s stock worth $17,680,000 after buying an additional 4,849 shares during the last quarter. Piedmont Investment Advisors LLC raised its position in Stryker by 0.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 77,882 shares of the medical technology company’s stock worth $11,061,000 after buying an additional 707 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Stryker by 5.5% during the 3rd quarter. California Public Employees Retirement System now owns 762,555 shares of the medical technology company’s stock worth $108,298,000 after buying an additional 40,029 shares during the last quarter. Institutional investors own 74.97% of the company’s stock.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.40% of the stock is currently owned by insiders.
Shares of Stryker Corporation (NYSE:SYK) traded up $0.96 during midday trading on Wednesday, reaching $153.67. 1,078,000 shares of the company traded hands, compared to its average volume of 1,177,003. The stock has a market cap of $57,149.83, a price-to-earnings ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker Corporation has a 12 month low of $116.27 and a 12 month high of $160.62.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. research analysts predict that Stryker Corporation will post 6.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.43. Stryker’s payout ratio is presently 36.32%.
A number of research firms have issued reports on SYK. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research report on Thursday, December 7th. Royal Bank of Canada reissued a “buy” rating and set a $155.00 price target on shares of Stryker in a research report on Monday, October 2nd. BMO Capital Markets raised shares of Stryker to a “market perform” rating and set a $163.00 price target for the company in a research report on Tuesday. BidaskClub raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $161.00 target price on shares of Stryker in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $153.19.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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