Healthcare of Ontario Pension Plan Trust Fund Sells 17,600 Shares of Stryker Co. (NYSE:SYK)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 24.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,000 shares of the medical technology company’s stock after selling 17,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Stryker were worth $18,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the 1st quarter worth $39,000. Accent Capital Management LLC bought a new stake in shares of Stryker in the 4th quarter worth $60,000. Sachetta LLC grew its stake in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Stryker by 17.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Price Performance

SYK opened at $351.61 on Friday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $349.38 and its 200-day simple moving average is $343.18. The company has a market capitalization of $133.99 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the company earned $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the 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 completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

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.