Stryker Co. (NYSE:SYK) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lessened its stake in Stryker Co. (NYSE:SYK) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,749 shares of the medical technology company’s stock after selling 1,083 shares during the period. Addenda Capital Inc.’s holdings in Stryker were worth $6,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Operose Advisors LLC lifted its position in Stryker by 308.6% in the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 108 shares during the period. Mutual Advisors LLC lifted its position in Stryker by 1.7% in the third quarter. Mutual Advisors LLC now owns 4,727 shares of the medical technology company’s stock valued at $1,292,000 after purchasing an additional 80 shares during the period. Valley National Advisers Inc. increased its holdings in Stryker by 33.1% in the third quarter. Valley National Advisers Inc. now owns 350 shares of the medical technology company’s stock valued at $96,000 after buying an additional 87 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Stryker by 100.9% in the third quarter. Tower Research Capital LLC TRC now owns 12,123 shares of the medical technology company’s stock valued at $3,313,000 after buying an additional 6,088 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Stryker by 14.5% in the third quarter. Bank of Nova Scotia now owns 31,430 shares of the medical technology company’s stock valued at $8,589,000 after buying an additional 3,979 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $340.43 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $129.69 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.68 and a beta of 0.92. The firm’s fifty day simple moving average is $337.38 and its 200 day simple moving average is $333.39. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Ratings Changes

A number of research analysts have issued reports on SYK shares. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird increased their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Barclays raised their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $370.58.

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.