Nuveen Asset Management LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Nuveen Asset Management LLC decreased its position in Stryker Co. (NYSE:SYK - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460,295 shares of the medical technology company's stock after selling 187,168 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.38% of Stryker worth $525,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brookstone Capital Management boosted its stake in shares of Stryker by 29.6% in the 4th quarter. Brookstone Capital Management now owns 3,094 shares of the medical technology company's stock worth $1,114,000 after buying an additional 706 shares during the last quarter. Cooper Financial Group lifted its holdings in Stryker by 15.0% during the fourth quarter. Cooper Financial Group now owns 883 shares of the medical technology company's stock worth $318,000 after acquiring an additional 115 shares during the period. Signal Advisors Wealth LLC boosted its position in Stryker by 8.8% in the fourth quarter. Signal Advisors Wealth LLC now owns 2,105 shares of the medical technology company's stock worth $760,000 after purchasing an additional 170 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Stryker by 6.4% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,173 shares of the medical technology company's stock worth $422,000 after purchasing an additional 71 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in Stryker in the 4th quarter valued at $271,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This 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 accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK traded up $2.04 during trading on Friday, hitting $394.24. 1,113,972 shares of the company were exchanged, compared to its average volume of 1,348,571. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a 50 day moving average of $366.62 and a 200 day moving average of $375.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market cap of $150.48 billion, a PE ratio of 50.80, a P/E/G ratio of 2.93 and a beta of 0.93.

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 company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS. As a group, equities research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Barclays increased their target price on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $427.05.

About Stryker

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.