Campbell Newman Asset Management Inc. Sells 8,047 Shares of Stryker Co. (NYSE:SYK)

Campbell Newman Asset Management Inc. lessened its holdings in Stryker Co. (NYSE:SYK) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,836 shares of the medical technology company’s stock after selling 8,047 shares during the quarter. Stryker makes up about 3.1% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 10th largest holding. Campbell Newman Asset Management Inc.’s holdings in Stryker were worth $38,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its stake in Stryker by 1.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 5,521 shares of the medical technology company’s stock valued at $1,879,000 after purchasing an additional 66 shares during the period. Dimensional Fund Advisors LP boosted its position in Stryker by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock worth $267,725,000 after acquiring an additional 97,160 shares during the period. Luts & Greenleigh Group Inc. acquired a new position in shares of Stryker during the second quarter valued at $565,000. Primecap Management Co. CA raised its stake in shares of Stryker by 0.3% during the second quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock valued at $152,262,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Stryker in the 2nd quarter valued at about $369,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.2 %

NYSE SYK opened at $367.07 on Wednesday. The company has a market capitalization of $139.93 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $375.13 and its 200-day simple moving average is $358.25.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker’s dividend payout ratio is 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group upped their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $405.80.

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.