New England Research & Management Inc. Trims Stake in Stryker Co. (NYSE:SYK)

New England Research & Management Inc. lessened its position in shares of Stryker Co. (NYSE:SYK) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,310 shares of the medical technology company’s stock after selling 100 shares during the quarter. Stryker comprises 1.1% of New England Research & Management Inc.’s investment portfolio, making the stock its 29th biggest holding. New England Research & Management Inc.’s holdings in Stryker were worth $2,280,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SYK. Epoch Investment Partners Inc. boosted its stake in shares of Stryker by 9.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 4,205 shares of the medical technology company’s stock worth $1,259,000 after buying an additional 350 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Stryker during the 4th quarter worth $1,592,000. Ossiam grew its stake in shares of Stryker by 8.2% during the 4th quarter. Ossiam now owns 9,584 shares of the medical technology company’s stock worth $2,870,000 after purchasing an additional 730 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Stryker in the 4th quarter worth approximately $99,000. Finally, Elo Mutual Pension Insurance Co boosted its position in Stryker by 4.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 29,841 shares of the medical technology company’s stock worth $8,936,000 after purchasing an additional 1,246 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Stock Performance

Shares of NYSE:SYK traded down $6.08 on Monday, hitting $345.14. 1,092,030 shares of the company were exchanged, compared to its average volume of 1,269,560. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a market capitalization of $131.48 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.74 and a beta of 0.91. The company’s 50 day moving average price is $349.77 and its two-hundred day moving average price is $342.99.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.54 earnings per share. Research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 in the last quarter. 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.