Premier Fund Managers Ltd Lowers stake in Stryker Corporation (SYK)

Stryker Corporation (SYK) : Premier Fund Managers Ltd reduced its stake in Stryker Corporation by 19.19% during the most recent quarter end. The investment management company now holds a total of 24,000 shares of Stryker Corporation which is valued at $2.7 Million after selling 5,700 shares in Stryker Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Stryker Corporation makes up approximately 2.63% of Premier Fund Managers Ltd’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth reduced its stake in SYK by selling 3,079 shares or 1.15% in the most recent quarter. The Hedge Fund company now holds 264,174 shares of SYK which is valued at $29.3 Million. Stryker Corporation makes up approx 1.21% of Boston Private Wealth’s portfolio.Tradelink Capital boosted its stake in SYK in the latest quarter, The investment management firm added 1,656 additional shares and now holds a total of 4,967 shares of Stryker Corporation which is valued at $552,380. Stryker Corporation makes up approx 1.03% of Tradelink Capital’s portfolio.

Stryker Corporation opened for trading at $111.85 and hit $112.44 on the upside on Wednesday, eventually ending the session at $111.87, with a gain of 0.18% or 0.2 points. The heightened volatility saw the trading volume jump to 10,86,412 shares. Company has a market cap of $41,837 M.

On the company’s financial health, Stryker Corporation reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.20. The company had revenue of $2495.00 million for the quarter, compared to analysts expectations of $2471.86 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS.

Investors should note that on Apr 27, 2016, Stryker Corporation announced a cash dividend of $0.3800. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on Stryker Corporation. Stryker Corporation was Upgraded by Sterne Agee CRT to ” Buy” on Apr 27, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 120 from a previous price target of $108 .Company shares were Downgraded by Robert W. Baird on Apr 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 116 from a previous price target of $111 .

Stryker Corporation is a medical technology company. The Company offers a range of products and services in Orthopaedics Medical and Surgical and Neurotechnology and Spine which help improve patient and hospital outcomes.

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