Cypress Capital Group Reduces Position in Stryker Corporation (NYSE:SYK)

Cypress Capital Group cut its holdings in shares of Stryker Corporation (NYSE:SYKFree Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,495 shares of the medical technology company’s stock after selling 35 shares during the period. Cypress Capital Group’s holdings in Stryker were worth $1,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Nuveen LLC purchased a new position in Stryker in the first quarter worth about $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Stryker in the fourth quarter worth about $154,140,000. Northern Trust Corp boosted its position in Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock worth $1,298,426,000 after purchasing an additional 420,153 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after buying an additional 361,136 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYK. Roth Mkm lifted their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Citigroup reissued a “buy” rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Check Out Our Latest Analysis on Stryker

Stryker Price Performance

SYK opened at $377.73 on Monday. The business has a fifty day moving average of $387.17 and a 200 day moving average of $379.98. Stryker Corporation has a 52-week low of $322.03 and a 52-week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $144.41 billion, a P/E ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the business earned $2.81 EPS. Stryker’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio is currently 44.50%.

Stryker Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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