Lord Abbett & CO. LLC Sells 318 Shares of Stryker Co. (NYSE:SYK)

Lord Abbett & CO. LLC lowered its position in Stryker Co. (NYSE:SYK) by 35.0% in the third quarter, Holdings Channel.com reports. The fund owned 591 shares of the medical technology company’s stock after selling 318 shares during the period. Lord Abbett & CO. LLC’s holdings in Stryker were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Avestar Capital LLC boosted its stake in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares during the period. Grimes & Company Inc. lifted its stake in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the period. Finally, Sachetta LLC boosted its holdings in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYK. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Needham & Company LLC boosted their price target on shares of Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Three equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $404.35.

Stryker Stock Down 0.5 %

NYSE SYK opened at $372.70 on Tuesday. The stock has a market capitalization of $142.08 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. Stryker Co. has a 52 week low of $288.15 and a 52 week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a fifty day moving average of $373.91 and a 200-day moving average of $355.36.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

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.