First Trust Advisors LP Sells 12,852 Shares of Stryker Co. (NYSE:SYK)

First Trust Advisors LP cut its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 563,505 shares of the medical technology company's stock after selling 12,852 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Stryker worth $202,890,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. J. W. Coons Advisors LLC grew its stake in shares of Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after buying an additional 26 shares during the period. Mascoma Wealth Management LLC grew its position in Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after acquiring an additional 27 shares during the period. Opal Wealth Advisors LLC increased its stake in Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after acquiring an additional 28 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 28 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its holdings in shares of Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock worth $719,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

SYK stock traded up $3.83 during trading on Thursday, reaching $360.94. 1,349,722 shares of the stock were exchanged, compared to its average volume of 1,357,112. The stock has a 50 day simple moving average of $368.69 and a 200-day simple moving average of $372.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $137.77 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the company posted $3.46 EPS. As a group, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.93%. Stryker's dividend payout ratio (DPR) is 43.30%.

Analyst Ratings Changes

SYK has been the subject of a number of research reports. Citigroup reaffirmed a "buy" rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. upped their price target on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada upped their target price on shares of Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $423.53.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

About Stryker

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.