Harvest Fund Management Co. Ltd Sells 393 Shares of Stryker Co. (NYSE:SYK)

Harvest Fund Management Co. Ltd lessened its holdings in Stryker Co. (NYSE:SYK) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 485 shares of the medical technology company’s stock after selling 393 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Stryker were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Magellan Asset Management Ltd grew its holdings in Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after buying an additional 679,450 shares in the last quarter. Barclays PLC raised its position in Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares during the last quarter. Morgan Stanley raised its position in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Stryker by 24.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after purchasing an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Stryker by 14.4% in the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after purchasing an additional 194,715 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI lifted their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Wednesday, January 31st. Finally, Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $340.67.

Stryker Stock Up 0.0 %

SYK stock opened at $336.96 on Thursday. The company’s 50 day simple moving average is $349.39 and its 200-day simple moving average is $314.24. The firm has a market capitalization of $128.20 billion, a PE ratio of 40.83, a P/E/G ratio of 2.70 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter last year, the firm posted $3.00 earnings per share. Stryker’s revenue was up 11.8% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Profile

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.