Investors Sell Stryker (SYK) on Strength (SYK)

Traders sold shares of Stryker Corporation (NYSE:SYK) on strength during trading hours on Tuesday. $40.13 million flowed into the stock on the tick-up and $69.68 million flowed out of the stock on the tick-down, for a money net flow of $29.55 million out of the stock. Of all companies tracked, Stryker had the 32nd highest net out-flow for the day. Stryker traded up $1.24 for the day and closed at $159.47

Several research analysts have recently commented on SYK shares. Wells Fargo & Co boosted their price target on Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. Canaccord Genuity boosted their price target on Stryker from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus boosted their price target on Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Cowen set a $160.00 price target on Stryker and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $155.00 price target on shares of Stryker in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $156.60.

The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The company has a market cap of $59,680.00, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. research analysts expect that Stryker Corporation will post 6.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. Stryker’s payout ratio is presently 40.09%.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the sale, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SYK. Beach Investment Management LLC. purchased a new stake in shares of Stryker in the second quarter worth about $1,924,000. Montag A & Associates Inc. purchased a new stake in shares of Stryker in the second quarter worth about $207,000. Mosaic Family Wealth LLC boosted its stake in shares of Stryker by 5.5% in the second quarter. Mosaic Family Wealth LLC now owns 1,372 shares of the medical technology company’s stock worth $190,000 after buying an additional 72 shares during the last quarter. RiverPoint Capital Management LLC boosted its stake in shares of Stryker by 1.6% in the second quarter. RiverPoint Capital Management LLC now owns 157,706 shares of the medical technology company’s stock worth $21,886,000 after buying an additional 2,412 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. purchased a new stake in shares of Stryker in the second quarter worth about $284,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.

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Stryker Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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