AustralianSuper Pty Ltd Sells 185,528 Shares of Stryker Corporation (NYSE:SYK)

AustralianSuper Pty Ltd lowered its stake in Stryker Corporation (NYSE:SYK - Free Report) by 42.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,509 shares of the medical technology company's stock after selling 185,528 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.07% of Stryker worth $93,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Stryker during the 4th quarter worth about $1,710,744,000. GAMMA Investing LLC boosted its position in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. FMR LLC boosted its position in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Stryker during the 4th quarter worth about $154,140,000. Finally, Northern Trust Corp boosted its position in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.0%

Stryker stock traded down $0.06 during mid-day trading on Friday, hitting $388.84. The stock had a trading volume of 1,716,294 shares, compared to its average volume of 1,351,495. The stock has a 50-day simple moving average of $385.67 and a two-hundred day simple moving average of $378.06. The stock has a market capitalization of $148.42 billion, a PE ratio of 52.55, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Citigroup restated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

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.