Stryker Co. (NYSE:SYK) Position Trimmed by Cullen Investment Group LTD.

Cullen Investment Group LTD. reduced its stake in Stryker Co. (NYSE:SYK) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 12,403 shares of the medical technology company’s stock after selling 261 shares during the period. Cullen Investment Group LTD.’s holdings in Stryker were worth $4,466,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its position in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter valued at about $36,000. Hara Capital LLC acquired a new position in Stryker in the third quarter valued at about $42,000. Finally, HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK opened at $360.96 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a 50-day simple moving average of $375.28 and a two-hundred day simple moving average of $358.09. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The firm has a market capitalization of $137.60 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Company 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.