Destination Wealth Management Decreases Stake in Stryker Co. (NYSE:SYK)

Destination Wealth Management lowered its position in Stryker Co. (NYSE:SYK) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 70,052 shares of the medical technology company’s stock after selling 1,091 shares during the period. Destination Wealth Management’s holdings in Stryker were worth $25,222,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Stryker by 2.2% during 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 buying an additional 316,404 shares in the last quarter. FMR LLC grew its holdings in Stryker by 3.0% during 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 buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC grew its holdings in Stryker by 2.5% during 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 buying an additional 165,490 shares in the last quarter. Parnassus Investments LLC purchased a new position in Stryker during the 3rd quarter valued at about $762,798,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Stryker by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after buying an additional 48,819 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 3.5 %

Shares of SYK opened at $381.86 on Friday. The firm has a market cap of $145.71 billion, a P/E ratio of 49.21, a P/E/G ratio of 2.93 and a beta of 0.96. The stock has a 50 day simple moving average of $382.21 and a two-hundred day simple moving average of $372.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $3.46 earnings per share. On average, analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Barclays lifted their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company boosted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Insider Activity

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