Comerica Bank Sells 7,424 Shares of Stryker Corporation $SYK

Key Points

• Comerica Bank trimmed its Stryker holding by 6.1%, selling 7,424 shares and leaving it with 114,913 shares valued at about $40.39 million at quarter-end.
• Director Ronda E. Stryker sold 250,000 shares at an average $362.92 for roughly $90.73 million, reducing her ownership by about 9.23% (insiders own 4.60% of the company).
• Stryker beat quarterly estimates with $4.47 EPS versus $4.40 expected and $7.17 billion in revenue (up 11.4% YoY), and announced a $0.88 quarterly dividend (annual $3.52, yield ~1.1%; ex-dividend Mar 31, pay Apr 30).

Comerica Bank cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,913 shares of the medical technology company's stock after selling 7,424 shares during the period. Comerica Bank's holdings in Stryker were worth $40,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. United Financial Planning Group LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $27,000. Strive Asset Management LLC bought a new stake in Stryker in the third quarter valued at $30,000. ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the third quarter valued at $34,000. Copia Wealth Management grew its position in Stryker by 181.6% in the third quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock valued at $40,000 after acquiring an additional 69 shares during the period. Finally, WPG Advisers LLC grew its position in Stryker by 156.8% in the third quarter. WPG Advisers LLC now owns 113 shares of the medical technology company's stock valued at $42,000 after acquiring an additional 69 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of SYK stock opened at $327.84 on Monday. The stock's fifty day moving average is $349.77 and its 200-day moving average is $358.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a market capitalization of $125.56 billion, a PE ratio of 39.03, a PEG ratio of 1.92 and a beta of 0.92. Stryker Corporation has a 52 week low of $319.32 and a 52 week high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.01 earnings per share. Equities research analysts expect that Stryker Corporation will post 14.91 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker's dividend payout ratio is presently 41.90%.

Analyst Ratings Changes

A number of brokerages have issued reports on SYK. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Needham & Company LLC upped their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $465.00 target price on shares of Stryker in a report on Wednesday, March 4th. Barclays reaffirmed an "overweight" rating and issued a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Finally, William Blair reaffirmed an "outperform" rating on shares of Stryker in a report on Thursday, March 5th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $421.11.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.60% of the company's stock.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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