Well Done LLC Reduces Position in Stryker Co. (NYSE:SYK)

by · The Cerbat Gem

Well Done LLC decreased its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,729 shares of the medical technology company’s stock after selling 31 shares during the period. Well Done LLC’s holdings in Stryker were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 buying an additional 309,592 shares in the last quarter. JPMorgan Chase & Co. increased its position in Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares in the last quarter. Clearbridge Investments LLC increased its position in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares in the last quarter. TD Asset Management Inc increased its position in Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after buying an additional 44,765 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after buying an additional 46,375 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.7 %

SYK stock traded up $6.00 during midday trading on Friday, reaching $365.73. 136,518 shares of the company’s stock traded hands, compared to its average volume of 1,246,366. The company has a market capitalization of $139.32 billion, a P/E ratio of 41.07, a PEG ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week high of $374.63. The business has a 50-day moving average price of $354.96 and a two-hundred day moving average price of $343.20.

Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 earnings per share. Equities research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays upped their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Get Our Latest Research Report on Stryker

Insider Activity

In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

(Free Report)

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.

Featured Stories

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 – Free Report).