Chevy Chase Trust Holdings Inc. Trims Stake in Stryker Corporation (SYK)
Chevy Chase Trust Holdings Inc. reduced its position in shares of Stryker Corporation (NYSE:SYK) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 314,489 shares of the medical technology company’s stock after selling 2,339 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Stryker were worth $48,695,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Stryker by 216.4% in the fourth quarter. State of Alaska Department of Revenue now owns 48,095 shares of the medical technology company’s stock valued at $7,445,000 after acquiring an additional 32,892 shares during the last quarter. McCollum Christoferson Group LLC bought a new stake in Stryker in the fourth quarter valued at approximately $7,221,000. Alta Capital Management LLC bought a new stake in Stryker in the fourth quarter valued at approximately $206,000. BKD Wealth Advisors LLC boosted its holdings in Stryker by 16.4% in the fourth quarter. BKD Wealth Advisors LLC now owns 3,770 shares of the medical technology company’s stock valued at $584,000 after acquiring an additional 530 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its holdings in Stryker by 3.1% in the fourth quarter. Smithbridge Asset Management Inc. DE now owns 14,106 shares of the medical technology company’s stock valued at $2,184,000 after acquiring an additional 428 shares during the last quarter. Institutional investors own 74.91% of the company’s stock.
Stryker Corporation (NYSE:SYK) opened at $162.52 on Tuesday. Stryker Corporation has a 12 month low of $119.17 and a 12 month high of $164.20. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $60,820.00, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, December 28th. Stryker’s dividend payout ratio is presently 40.09%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.
Several analysts recently commented on SYK shares. Wells Fargo & Co upped their target price on Stryker from $160.00 to $166.00 in a report on Friday, October 27th. Canaccord Genuity upped their target price on Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus upped their target price on Stryker from $158.00 to $168.00 and gave the company a “buy” rating in a report on Friday, October 27th. Cowen set a $160.00 target price on Stryker and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $155.00 target price on shares of Stryker in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Stryker has a consensus rating of “Hold” and a consensus target price of $156.60.
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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