IndexIQ Advisors LLC Has $3.08 Million Position in Stryker Co. (NYSE:SYK)

IndexIQ Advisors LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,692 shares of the medical technology company’s stock after selling 176 shares during the period. IndexIQ Advisors LLC’s holdings in Stryker were worth $3,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. BlackRock Inc. grew its position in Stryker by 4.5% during the third quarter. BlackRock Inc. now owns 24,204,161 shares of the medical technology company’s stock valued at $6,383,121,000 after buying an additional 1,035,957 shares during the period. State Street Corp boosted its position in Stryker by 1.6% during the second quarter. State Street Corp now owns 13,167,321 shares of the medical technology company’s stock worth $3,428,128,000 after purchasing an additional 210,940 shares during the period. FMR LLC boosted its position in Stryker by 1.6% during the second quarter. FMR LLC now owns 4,685,927 shares of the medical technology company’s stock worth $1,217,076,000 after purchasing an additional 75,772 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Stryker by 4.8% in the third quarter. Fisher Asset Management LLC now owns 2,975,851 shares of the medical technology company’s stock worth $784,792,000 after buying an additional 136,142 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of Stryker by 8.3% in the third quarter. WCM Investment Management LLC now owns 2,947,460 shares of the medical technology company’s stock worth $777,304,000 after buying an additional 225,808 shares in the last quarter. Hedge funds and other institutional investors own 73.28% of the company’s stock.

In other news, Director Srikant M. Datar sold 1,000 shares of the stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $263.12, for a total value of $263,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 2,778 shares of the stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $259.79, for a total transaction of $721,696.62. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

SYK has been the topic of several research reports. Robert W. Baird reissued a “buy” rating and set a $301.00 price target on shares of Stryker in a research note on Friday, October 29th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating and set a $286.00 target price on the stock. in a report on Tuesday, September 28th. Loop Capital initiated coverage on shares of Stryker in a report on Monday, December 6th. They issued a “buy” rating and a $305.00 price target on the stock. SVB Leerink reiterated an “outperform” rating on shares of Stryker in a report on Friday, October 22nd. Finally, Morgan Stanley cut shares of Stryker from an “overweight” rating to an “equal weight” rating and set a $305.00 price target on the stock. in a report on Friday, January 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $293.74.

Stryker stock opened at $266.71 on Friday. The stock has a market cap of $100.58 billion, a P/E ratio of 53.66, a P/E/G ratio of 2.90 and a beta of 1.01. Stryker Co. has a 12 month low of $220.90 and a 12 month high of $281.16. The company’s fifty day simple moving average is $261.02 and its 200-day simple moving average is $265.15. The company has a quick ratio of 1.35, a current ratio of 2.13 and a debt-to-equity ratio of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Wednesday, October 27th. The medical technology company reported $2.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.28 by ($0.08). The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.23 billion. Stryker had a return on equity of 25.73% and a net margin of 11.40%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company earned $2.14 EPS. On average, equities research analysts expect that Stryker Co. will post 9.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Stockholders of record on Friday, December 31st will be given a $0.695 dividend. The ex-dividend date is Thursday, December 30th. This is a boost from Stryker’s previous quarterly dividend of $0.63. This represents a $2.78 annualized dividend and a dividend yield of 1.04%. Stryker’s payout ratio is presently 55.94%.

About Stryker

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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