Bleakley Financial Group LLC Trims Stake in Stryker Co. (NYSE:SYK)

Bleakley Financial Group LLC lessened its stake in Stryker Co. (NYSE:SYK) by 82.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,799 shares of the medical technology company’s stock after selling 35,595 shares during the period. Bleakley Financial Group LLC’s holdings in Stryker were worth $2,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Assets Advisory LLC acquired a new stake in Stryker during the first quarter valued at $341,049,000. JPMorgan Chase & Co. grew its position in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares in the last quarter. American Century Companies Inc. raised its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the period. Finally, Vanguard Group Inc. boosted its position in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on SYK shares. Barclays boosted their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Evercore ISI lifted their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price objective on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Trading Up 2.7 %

Shares of SYK stock opened at $369.56 on Friday. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The stock has a market cap of $140.78 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.78 and a beta of 0.91. The company’s 50-day moving average price is $355.79 and its 200-day moving average price is $343.31. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker Company 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.