Cullen Frost Bankers Inc. Trims Stock Position in Stryker Co. (NYSE:SYK)

Cullen Frost Bankers Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 61,451 shares of the medical technology company’s stock after selling 103 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Stryker were worth $18,402,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Magellan Asset Management Ltd lifted its stake in shares of Stryker by 74,911.8% during the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares during the period. Barclays PLC increased its stake in shares of Stryker by 103.5% during the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after purchasing an additional 551,798 shares in the last quarter. Morgan Stanley increased its stake in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by insiders.

Stryker Stock Down 0.9 %

Shares of NYSE SYK traded down $2.86 during mid-day trading on Wednesday, reaching $329.28. The company had a trading volume of 1,169,848 shares, compared to its average volume of 1,330,950. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $346.05 and a two-hundred day simple moving average of $318.84. The stock has a market cap of $125.44 billion, a P/E ratio of 37.59, a PEG ratio of 2.54 and a beta of 0.91. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $2.14 EPS. Sell-side analysts predict that Stryker Co. will post 11.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Roth Mkm upped their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. UBS Group upped their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their target price on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.94.

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.