Calamos Advisors LLC Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

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Calamos Advisors LLC trimmed its position in Stryker Co. (NYSE:SYK) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 85,112 shares of the medical technology company’s stock after selling 751 shares during the period. Calamos Advisors LLC’s holdings in Stryker were worth $17,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Nuveen Asset Management LLC boosted its holdings in Stryker by 20,218.6% in the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after acquiring an additional 2,583,333 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Stryker by 2.1% in the second quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock valued at $5,496,241,000 after acquiring an additional 555,327 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Stryker in the second quarter valued at $60,571,000. State Street Corp boosted its holdings in Stryker by 1.7% in the third quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock valued at $2,918,870,000 after acquiring an additional 229,189 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Stryker by 490.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 265,900 shares of the medical technology company’s stock valued at $57,514,000 after acquiring an additional 220,900 shares in the last quarter. 73.16% of the stock is currently owned by institutional investors.

Shares of SYK stock opened at $206.75 on Thursday. Stryker Co. has a 12 month low of $160.79 and a 12 month high of $223.45. The stock has a market cap of $78.43 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.34 and a beta of 0.76. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $206.99 and its 200-day moving average price is $211.03.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.01. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. Stryker’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. On average, sell-side analysts forecast that Stryker Co. will post 8.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from Stryker’s previous quarterly dividend of $0.52. Stryker’s payout ratio is currently 31.46%.

Several research firms recently weighed in on SYK. Morgan Stanley lifted their price target on shares of Stryker from $230.00 to $242.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Deutsche Bank initiated coverage on shares of Stryker in a report on Friday, January 3rd. They set a “buy” rating and a $179.00 target price on the stock. Piper Jaffray Companies cut shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a report on Tuesday, January 7th. Canaccord Genuity boosted their target price on shares of Stryker from $233.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI upgraded shares of Stryker from an “in-line” rating to an “outperform” rating in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $222.16.

In other news, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $215.85, for a total value of $582,795.00. Following the completion of the transaction, the chief financial officer now owns 17,933 shares of the company’s stock, valued at approximately $3,870,838.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $206.28, for a total value of $962,502.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,652 shares of company stock valued at $5,705,481. 7.20% of the stock is owned by insiders.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

Further Reading: Cash Flow

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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