Telemus Capital LLC Cuts Holdings in Stryker Co. (NYSE:SYK)

Telemus Capital LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,147 shares of the medical technology company’s stock after selling 77 shares during the period. Telemus Capital LLC’s holdings in Stryker were worth $343,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bremer Bank National Association boosted its stake in Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after buying an additional 34 shares during the period. Consolidated Portfolio Review Corp lifted its holdings in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after buying an additional 34 shares during the period. MBL Wealth LLC lifted its holdings in shares of Stryker by 4.6% during the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after buying an additional 37 shares during the period. Finally, PDS Planning Inc lifted its holdings in shares of Stryker by 3.0% during the 3rd quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock valued at $360,000 after buying an additional 38 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.7 %

Shares of SYK stock opened at $327.68 on Tuesday. The firm has a market capitalization of $124.67 billion, a PE ratio of 39.72, a PEG ratio of 2.62 and a beta of 0.89. The stock has a fifty day simple moving average of $349.74 and a two-hundred day simple moving average of $313.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share. On average, analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s payout ratio is 38.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Citigroup increased their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Evercore ISI raised their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.45.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

About Stryker

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.