Dillon & Associates Inc. Sells 155 Shares of Stryker Co. (SYK)

Dillon & Associates Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 93,327 shares of the medical technology company’s stock after selling 155 shares during the period. Stryker comprises about 6.0% of Dillon & Associates Inc.’s portfolio, making the stock its 3rd biggest holding. Dillon & Associates Inc.’s holdings in Stryker were worth $18,479,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Stryker by 6.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,083 shares of the medical technology company’s stock worth $3,572,000 after purchasing an additional 1,140 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Stryker by 6.5% in the first quarter. Stratos Wealth Partners LTD. now owns 8,539 shares of the medical technology company’s stock worth $1,687,000 after purchasing an additional 519 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Stryker by 5.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 25,562 shares of the medical technology company’s stock worth $5,049,000 after purchasing an additional 1,324 shares during the period. Raymond James & Associates boosted its position in shares of Stryker by 30.9% during the first quarter. Raymond James & Associates now owns 296,511 shares of the medical technology company’s stock worth $58,569,000 after acquiring an additional 70,048 shares during the last quarter. Finally, Chemical Bank boosted its position in shares of Stryker by 3.4% during the first quarter. Chemical Bank now owns 21,518 shares of the medical technology company’s stock worth $4,251,000 after acquiring an additional 705 shares during the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

In other news, VP Katherine Ann Owen sold 29,247 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.62, for a total value of $5,428,828.14. Following the sale, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $186.25, for a total transaction of $869,042.50. The disclosure for this sale can be found here. Insiders have sold 116,216 shares of company stock valued at $22,245,359 in the last quarter. 7.20% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the stock. Canaccord Genuity upped their target price on shares of Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research report on Monday, February 4th. Deutsche Bank upped their target price on shares of Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their target price on shares of Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and an average target price of $196.85.

SYK stock opened at $184.14 on Friday. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $199.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30. The firm has a market cap of $69.26 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the business earned $1.68 earnings per share. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Stryker Co. will post 8.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.13%. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

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Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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