Pacer Advisors Inc. Reduces Stock Position in Stryker Corporation (NYSE:SYK)

by · The Cerbat Gem

Pacer Advisors Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 35.4% during the first quarter, Holdings Channel reports. The firm owned 20,638 shares of the medical technology company’s stock after selling 11,287 shares during the quarter. Pacer Advisors Inc.’s holdings in Stryker were worth $7,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after acquiring an additional 54,693 shares in the last quarter. FMR LLC boosted its holdings in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Geode Capital Management LLC increased its position in Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the period. Northern Trust Corp raised its holdings in Stryker by 13.2% in the 4th 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 in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% in the 1st 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 period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.7%

NYSE:SYK opened at $403.34 on Monday. The company’s 50 day moving average price is $386.37 and its 200-day moving average price is $379.44. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market cap of $153.95 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 2.99 and a beta of 0.91.

Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.83%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research reports. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. BTIG Research reiterated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $428.55.

View Our Latest Stock Report on SYK

Stryker Company 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.

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