Lathrop Investment Management Corp Sells 774 Shares of Stryker Co. (NYSE:SYK)

Lathrop Investment Management Corp cut its holdings in Stryker Co. (NYSE:SYK) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,823 shares of the medical technology company’s stock after selling 774 shares during the period. Stryker comprises about 3.3% of Lathrop Investment Management Corp’s holdings, making the stock its 10th largest position. Lathrop Investment Management Corp’s holdings in Stryker were worth $16,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYK. Magellan Asset Management Ltd raised its stake in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after buying an additional 679,450 shares in the last quarter. Barclays PLC increased its position in shares of Stryker by 103.5% during the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after purchasing an additional 551,798 shares in the last quarter. Morgan Stanley increased its position in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. TD Cowen lifted their target price on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Roth Mkm lifted their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.67.

Stryker Stock Performance

SYK traded down $1.54 during trading on Friday, reaching $335.61. The company’s stock had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company’s fifty day moving average price is $348.88 and its 200-day moving average price is $314.88. The company has a market capitalization of $127.69 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.00 EPS. On average, equities analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Stryker 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.