Flputnam Investment Management Co. Has $8.12 Million Stock Position in Stryker Co. (NYSE:SYK)

Flputnam Investment Management Co. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,117 shares of the medical technology company’s stock after selling 1,232 shares during the period. Flputnam Investment Management Co.’s holdings in Stryker were worth $8,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Freedom Wealth Alliance LLC bought a new position in Stryker in the 4th quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Quarry LP purchased a new stake in shares of Stryker in the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new position in shares of Stryker during the 4th quarter valued at $37,000. Finally, Bourgeon Capital Management LLC bought a new stake in Stryker in the fourth quarter worth $37,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.9 %

Shares of SYK stock traded down $3.09 during mid-day trading on Tuesday, hitting $336.04. The company’s stock had a trading volume of 286,195 shares, compared to its average volume of 1,240,804. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $127.85 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.75 and a beta of 0.89. The business has a 50-day moving average price of $350.75 and a 200 day moving average price of $311.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 earnings per share. Research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday. TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.22.

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.