Pinebridge Investments L.P. Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Pinebridge Investments L.P. reduced its position in shares of Stryker Co. (NYSE:SYKGet Rating) by 76.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,930 shares of the medical technology company’s stock after selling 59,538 shares during the period. Pinebridge Investments L.P.’s holdings in Stryker were worth $4,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC increased its holdings in Stryker by 6.3% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 645 shares of the medical technology company’s stock valued at $172,000 after buying an additional 38 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Stryker by 19.8% in the fourth quarter. Manchester Capital Management LLC now owns 242 shares of the medical technology company’s stock valued at $65,000 after buying an additional 40 shares in the last quarter. First Foundation Advisors increased its holdings in Stryker by 4.8% in the third quarter. First Foundation Advisors now owns 893 shares of the medical technology company’s stock valued at $236,000 after buying an additional 41 shares in the last quarter. Community Capital Management LLC increased its holdings in Stryker by 2.2% in the fourth quarter. Community Capital Management LLC now owns 2,000 shares of the medical technology company’s stock valued at $523,000 after buying an additional 44 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in Stryker by 4.5% in the fourth quarter. Capital Investment Advisors LLC now owns 1,037 shares of the medical technology company’s stock valued at $277,000 after buying an additional 45 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Shares of SYK opened at $233.27 on Friday. The firm has a market cap of $88.21 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.99. The company’s fifty day moving average is $255.80 and its two-hundred day moving average is $258.28. Stryker Co. has a fifty-two week low of $224.02 and a fifty-two week high of $281.16. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.92.

Stryker (NYSE:SYKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Stryker had a net margin of 11.56% and a return on equity of 24.09%. Stryker’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.93 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 9.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be paid a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, June 29th. Stryker’s dividend payout ratio is presently 52.85%.

SYK has been the topic of several research reports. BTIG Research increased their price target on shares of Stryker from $273.00 to $278.00 in a research report on Monday, April 18th. Evercore ISI reiterated an “outperform” rating and issued a $284.00 price target on shares of Stryker in a research report on Tuesday, March 15th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Bank of America initiated coverage on shares of Stryker in a research report on Tuesday, March 1st. They issued a “buy” rating on the stock. Finally, TheStreet lowered shares of Stryker from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $291.44.

Stryker Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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