Mediolanum International Funds Ltd Cuts Holdings in Stryker Co. (NYSE:SYK)

Mediolanum International Funds Ltd reduced its position in Stryker Co. (NYSE:SYK) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,248 shares of the medical technology company’s stock after selling 1,325 shares during the period. Mediolanum International Funds Ltd’s holdings in Stryker were worth $18,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. raised its stake in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. increased its position in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC increased its position in shares of Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 1.4 %

Shares of Stryker stock traded down $5.05 during trading on Friday, hitting $354.85. 265,912 shares of the stock were exchanged, compared to its average volume of 1,243,025. The stock has a market cap of $135.18 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The firm’s 50-day moving average price is $357.99 and its 200 day moving average price is $343.59. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. As a group, analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group upped their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Evercore ISI upped their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. 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.