Manitou Investment Management Ltd. Lowers Stake in Stryker Co. (NYSE:SYK)

Manitou Investment Management Ltd. cut its position in Stryker Co. (NYSE:SYK) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,346 shares of the medical technology company’s stock after selling 23,656 shares during the period. Stryker comprises 3.3% of Manitou Investment Management Ltd.’s portfolio, making the stock its 12th largest holding. Manitou Investment Management Ltd.’s holdings in Stryker were worth $17,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Norden Group LLC bought a new stake in Stryker during the first quarter valued at about $4,027,000. Kovack Advisors Inc. purchased a new position in shares of Stryker in the first quarter valued at about $224,000. J.W. Cole Advisors Inc. lifted its position in shares of Stryker by 6.8% in the first quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after acquiring an additional 166 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Stryker by 4.4% in the first quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock valued at $5,479,000 after acquiring an additional 652 shares in the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of Stryker by 201.2% in the first quarter. Mission Wealth Management LP now owns 6,258 shares of the medical technology company’s stock valued at $2,240,000 after acquiring an additional 4,180 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Down 2.0 %

Shares of NYSE SYK opened at $356.28 on Friday. The business’s 50 day moving average is $359.90 and its two-hundred day moving average is $344.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $264.85 and a 1-year high of $374.63. The stock has a market capitalization of $135.77 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 12.05 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio is 34.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Needham & Company LLC boosted their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is currently owned by insiders.

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.