Ensign Peak Advisors Inc Lowers Stock Position in Stryker Co. (NYSE:SYK)

Ensign Peak Advisors Inc reduced its stake in Stryker Co. (NYSE:SYK) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 677,604 shares of the medical technology company’s stock after selling 41,131 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Stryker were worth $243,971,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at $30,000. BankPlus Trust Department purchased a new position in Stryker in the fourth quarter valued at $33,000. Finally, VSM Wealth Advisory LLC acquired a new position in Stryker during the 4th quarter worth $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK opened at $382.68 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market cap of $146.06 billion, a PE ratio of 49.31, a P/E/G ratio of 2.93 and a beta of 0.93. The stock has a fifty day moving average price of $365.66 and a 200 day moving average price of $374.20. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 earnings per share. Sell-side analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating and issued a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $427.05.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.