Comerica Bank Sells 2,198 Shares of Stryker Co. (NYSE:SYK)

Comerica Bank decreased its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 126,729 shares of the medical technology company's stock after selling 2,198 shares during the period. Comerica Bank's holdings in Stryker were worth $45,629,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SYK. Morse Asset Management Inc increased its holdings in Stryker by 16.5% during the 3rd quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company's stock worth $509,000 after acquiring an additional 200 shares during the period. World Investment Advisors LLC increased its holdings in shares of Stryker by 126.1% in the third quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company's stock worth $2,941,000 after purchasing an additional 4,541 shares during the period. Arvest Bank Trust Division purchased a new stake in shares of Stryker in the third quarter worth $245,000. Wilmington Savings Fund Society FSB boosted its stake in Stryker by 13.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company's stock valued at $16,183,000 after buying an additional 5,361 shares during the period. Finally, Tidal Investments LLC grew its position in Stryker by 13.9% during the third quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company's stock worth $6,314,000 after buying an additional 2,139 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. Finally, Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $426.53.

Stryker Trading Up 1.2 %

Shares of NYSE SYK traded up $4.61 during mid-day trading on Friday, hitting $378.60. The stock had a trading volume of 3,709,100 shares, compared to its average volume of 1,356,830. The firm has a market cap of $144.51 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a 50 day moving average price of $366.38 and a two-hundred day moving average price of $373.73. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio is currently 45.41%.

Insider Activity

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

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.