Fenimore Asset Management Inc Cuts Position in Stryker Co. (NYSE:SYK)

Fenimore Asset Management Inc trimmed its position in shares of Stryker Co. (NYSE:SYK) by 0.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 523,985 shares of the medical technology company’s stock after selling 256 shares during the period. Stryker accounts for approximately 4.1% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 4th biggest position. Fenimore Asset Management Inc’s holdings in Stryker were worth $195,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SYK. Capital & Planning LLC increased its holdings in Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares during the last quarter. Brighton Jones LLC increased its holdings in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in Stryker by 47.1% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 925 shares of the medical technology company’s stock worth $334,000 after buying an additional 296 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth $72,000. Finally, Conning Inc. increased its holdings in Stryker by 5.1% during the fourth quarter. Conning Inc. now owns 2,520 shares of the medical technology company’s stock worth $907,000 after buying an additional 123 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Citigroup reiterated a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Barclays upped their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker Stock Performance

Shares of SYK stock opened at $384.15 on Monday. The company has a market cap of $146.63 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. 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 firm has a 50 day moving average of $370.10 and a 200-day moving average of $375.87.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the business earned $2.50 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 13.47 earnings per share 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 issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

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.