Phraction Management LLC Sells 700 Shares of Stryker Co. (NYSE:SYK)

Phraction Management LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 33.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,413 shares of the medical technology company’s stock after selling 700 shares during the period. Phraction Management LLC’s holdings in Stryker were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC raised its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC raised its stake in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the period. Parnassus Investments LLC bought a new stake in Stryker in the 3rd quarter valued at $762,798,000. Finally, Janus Henderson Group PLC raised its stake in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after acquiring an additional 28,421 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $385.49 on Thursday. The stock’s 50-day simple moving average is $377.27 and its 200 day simple moving average is $366.01. The stock has a market capitalization of $146.96 billion, a price-to-earnings ratio of 49.68, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business posted $3.46 EPS. Research analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYK. Wells Fargo & Company upped their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup upped their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Profile

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.