Cullen Frost Bankers Inc. trimmed its stake in Stryker Co. (NYSE:SYK) by 7.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,931 shares of the medical technology company’s stock after selling 1,496 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Stryker were worth $3,186,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. MayTech Global Investments LLC increased its holdings in shares of Stryker by 9.5% during the second quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock valued at $3,122,000 after purchasing an additional 1,604 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Stryker by 318.9% during the third quarter. First Citizens Bank & Trust Co. now owns 6,840 shares of the medical technology company’s stock valued at $1,216,000 after purchasing an additional 5,207 shares during the period. Chartwell Investment Partners LLC acquired a new position in shares of Stryker during the second quarter valued at $1,409,000. Moody Lynn & Lieberson LLC increased its holdings in shares of Stryker by 50.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 75,135 shares of the medical technology company’s stock valued at $13,350,000 after purchasing an additional 25,316 shares during the period. Finally, Arrow Financial Corp increased its holdings in shares of Stryker by 3.5% during the third quarter. Arrow Financial Corp now owns 26,549 shares of the medical technology company’s stock valued at $4,716,000 after purchasing an additional 906 shares during the period. Institutional investors own 74.87% of the company’s stock.
In other Stryker news, VP M Kathryn Fink sold 415 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $166.56, for a total transaction of $69,122.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 750 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. Insiders have sold a total of 39,031 shares of company stock valued at $6,520,313 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.
SYK has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a report on Wednesday, July 25th. Royal Bank of Canada reissued a “buy” rating and set a $184.00 price target on shares of Stryker in a report on Wednesday, July 25th. Cantor Fitzgerald raised their price target on Stryker from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Citigroup raised their price target on Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, Canaccord Genuity reissued a “buy” rating and set a $185.00 price target on shares of Stryker in a report on Wednesday, July 25th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $181.86.
NYSE:SYK traded down $1.61 during mid-day trading on Thursday, reaching $164.34. 1,294,674 shares of the stock were exchanged, compared to its average volume of 1,461,595. The firm has a market cap of $62.10 billion, a P/E ratio of 25.32, a PEG ratio of 2.28 and a beta of 0.64. Stryker Co. has a 1-year low of $146.80 and a 1-year high of $179.84. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.01. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Stryker had a return on equity of 28.00% and a net margin of 9.31%. Sell-side analysts expect that Stryker Co. will post 7.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.14%. Stryker’s payout ratio is presently 28.97%.
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.
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