Kornitzer Capital Management Inc. KS Has $2.58 Million Position in Stryker Co. (NYSE:SYK)

Kornitzer Capital Management Inc. KS decreased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,152 shares of the medical technology company's stock after selling 932 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Stryker were worth $2,575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC increased its holdings in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock valued at $308,433,000 after buying an additional 852,496 shares in the last quarter. RTW Investments LP bought a new position in shares of Stryker in the third quarter valued at $143,392,000. State Street Corp increased its holdings in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 1.0 %

SYK traded down $3.82 during mid-day trading on Friday, hitting $382.59. The stock had a trading volume of 1,268,413 shares, compared to its average volume of 1,388,856. The stock's fifty day simple moving average is $377.92 and its 200-day simple moving average is $368.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $145.99 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $3.46 earnings per share. As a group, research analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $420.68.

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.