Traders Sell Shares of Stryker (SYK) on Strength (SYK)
Investors sold shares of Stryker Corporation (NYSE:SYK) on strength during trading on Thursday. $30.26 million flowed into the stock on the tick-up and $62.10 million flowed out of the stock on the tick-down, for a money net flow of $31.84 million out of the stock. Of all companies tracked, Stryker had the 0th highest net out-flow for the day. Stryker traded up $0.01 for the day and closed at $160.28
SYK has been the topic of a number of research reports. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $161.00 to $173.00 in a report on Thursday, November 16th. SunTrust Banks reiterated a “buy” rating and set a $161.00 target price on shares of Stryker in a report on Friday, November 17th. Wells Fargo & Co increased their target price on shares of Stryker from $160.00 to $166.00 in a report on Friday, October 27th. Barclays increased their target price on shares of Stryker from $137.00 to $148.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Stryker from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Hold” and a consensus price target of $156.60.
The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. The firm has a market capitalization of $59,980.00, a PE ratio of 34.17, a P/E/G ratio of 2.28 and a beta of 0.78.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.17%. Stryker’s dividend payout ratio is currently 40.09%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Stryker by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after buying an additional 657,656 shares during the last quarter. BlackRock Inc. boosted its stake in Stryker by 5.2% during the 2nd quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock worth $3,208,017,000 after purchasing an additional 1,139,082 shares during the period. Jensen Investment Management Inc. boosted its stake in Stryker by 11.3% during the 3rd quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock worth $351,141,000 after purchasing an additional 251,685 shares during the period. Legal & General Group Plc boosted its stake in Stryker by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock worth $256,393,000 after purchasing an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Stryker by 4.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock worth $247,536,000 after purchasing an additional 79,551 shares during the period. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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