Jennison Associates LLC Lowers Stake in Stryker Co. (NYSE:SYK)

Jennison Associates LLC reduced its position in shares of Stryker Co. (NYSE:SYK) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,137 shares of the medical technology company’s stock after selling 119,061 shares during the quarter. Jennison Associates LLC owned 0.05% of Stryker worth $62,329,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SYK. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. HBC Financial Services PLLC acquired a new position in shares of Stryker during the 4th quarter worth about $37,000. Bourgeon Capital Management LLC acquired a new position in shares of Stryker during the 4th quarter worth about $37,000. Operose Advisors LLC raised its position in shares of Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 108 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Stryker by 97.1% during the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYK. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $340.67.

Insider Activity

In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, 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 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 sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Stryker Trading Up 2.2 %

NYSE SYK opened at $334.89 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market cap of $127.42 billion, a PE ratio of 40.59, a P/E/G ratio of 2.64 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The firm’s fifty day moving average is $349.64 and its two-hundred day moving average is $314.08.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

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.