Teza Capital Management LLC Has $543,000 Stake in Stryker Co. (NYSE:SYK)

Teza Capital Management LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 23.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,508 shares of the medical technology company’s stock after selling 467 shares during the period. Teza Capital Management LLC’s holdings in Stryker were worth $543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the 4th quarter valued at $25,000. Rakuten Securities Inc. grew its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at about $30,000. BankPlus Trust Department bought a new position in shares of Stryker during the fourth quarter valued at about $33,000. Finally, Activest Wealth Management purchased a new position in Stryker during the fourth quarter worth about $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup reiterated a “buy” rating and set a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $427.05.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $394.63 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $150.63 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm’s 50-day simple moving average is $367.24 and its two-hundred day simple moving average is $375.80.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.25% and a return on equity of 23.58%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

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.