Magellan Asset Management Ltd Decreases Stock Position in Stryker Co. (NYSE:SYK)

Magellan Asset Management Ltd lowered its position in Stryker Co. (NYSE:SYK) by 10.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 735,159 shares of the medical technology company’s stock after selling 87,639 shares during the period. Stryker accounts for approximately 2.9% of Magellan Asset Management Ltd’s portfolio, making the stock its 15th biggest position. Magellan Asset Management Ltd’s holdings in Stryker were worth $264,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC grew its position in Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after buying an additional 26 shares during the period. Mascoma Wealth Management LLC grew its position in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares during the period. Opal Wealth Advisors LLC increased its stake in shares of Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 28 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 28 shares in the last quarter. Finally, Alhambra Investment Management LLC raised its holdings in Stryker by 1.5% in the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Stryker Trading Up 1.2 %

Shares of SYK stock opened at $377.82 on Thursday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market cap of $144.21 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 2.93 and a beta of 0.95. The company’s 50-day moving average price is $383.16 and its 200-day moving average price is $374.45. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the business posted $3.46 earnings per share. As a group, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SYK shares. Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Citigroup reaffirmed a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

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.