Stryker Co. (NYSE:SYK) Stock Position Lowered by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,836 shares of the medical technology company's stock after selling 8,047 shares during the period. Stryker comprises approximately 3.1% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 10th largest holding. Campbell Newman Asset Management Inc.'s holdings in Stryker were worth $38,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its position in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth about $42,000. Finally, Hara Capital LLC bought a new position in Stryker during the third quarter valued at about $42,000. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Stryker from $405.00 to $427.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $405.80.

Stryker Price Performance

Shares of SYK stock traded up $5.29 on Wednesday, reaching $368.09. The company's stock had a trading volume of 1,529,204 shares, compared to its average volume of 1,308,339. The company has a market capitalization of $140.32 billion, a P/E ratio of 39.45, a PEG ratio of 2.82 and a beta of 0.95. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The stock's 50 day simple moving average is $375.13 and its 200-day simple moving average is $358.25. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. The company's revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's payout ratio is currently 36.01%.

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.