Stryker Corporation $SYK Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Stryker position by 87.5% in the first quarter, selling 151,973 shares and retaining 21,633 shares worth approximately $7.1 million. Other institutional investors increased their holdings, with institutions collectively owning 77.09% of Stryker.
• Stryker insiders sold 323,264 shares worth about $100.7 million over the past three months, including Director Ronda E. Stryker’s $96.8 million sale.
• Stryker reported quarterly EPS and revenue below analyst expectations but maintained growth and announced a quarterly dividend of $0.88 per share. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $393.39.

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 87.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,633 shares of the medical technology company's stock after selling 151,973 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Stryker were worth $7,108,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SYK. Varma Mutual Pension Insurance Co boosted its position in Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company's stock worth $18,842,000 after acquiring an additional 5,100 shares during the period. QRG Capital Management Inc. raised its stake in shares of Stryker by 7.4% during the fourth quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company's stock valued at $21,281,000 after purchasing an additional 4,186 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its stake in shares of Stryker by 41.3% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 50,123 shares of the medical technology company's stock valued at $17,617,000 after purchasing an additional 14,641 shares in the last quarter. Swedbank AB lifted its holdings in Stryker by 6.6% in the fourth quarter. Swedbank AB now owns 129,027 shares of the medical technology company's stock worth $45,349,000 after purchasing an additional 7,934 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in Stryker by 31.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company's stock valued at $9,426,000 after buying an additional 6,367 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 3,500 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the sale, the vice president directly owned 177 shares of the company's stock, valued at $50,170.65. This represents a 95.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 323,264 shares of company stock valued at $100,659,489 over the last three months. Company insiders own 4.60% of the company's stock.

Stryker Stock Up 1.7%

SYK stock opened at $352.35 on Thursday. The firm has a market cap of $135.08 billion, a PE ratio of 40.78, a P/E/G ratio of 2.22 and a beta of 0.77. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $403.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $316.38 and a 200 day simple moving average of $335.11.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.84 EPS. Equities research analysts forecast that Stryker Corporation will post 14.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Stryker's payout ratio is presently 40.74%.

Analysts Set New Price Targets

Several equities analysts have commented on SYK shares. UBS Group assumed coverage on shares of Stryker in a research note on Tuesday. They set a "buy" rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Stryker in a report on Friday, May 1st. Barclays dropped their target price on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Leerink Partners cut their target price on Stryker from $410.00 to $407.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Finally, Argus set a $370.00 price target on Stryker in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $393.39.

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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