SEC Filing: Crawford Investment Counsel INC Cut Its Stryker Corp (SYK) Holding by $23.99 Million as Market Valuation Declined

SEC Filing: Crawford Investment Counsel INC Cut Its Stryker Corp (SYK) Holding by $23.99 Million as Market Valuation Declined

Crawford Investment Counsel Inc decreased its stake in Stryker Corp (SYK) by 54.45% based on its latest 2016Q3 regulatory filing with the SEC. Crawford Investment Counsel Inc sold 206,782 shares as the company’s stock declined 3.32% while stock markets rallied. The institutional investor held 172,971 shares of the medical and dental instruments company at the end of 2016Q3, valued at $20.14 million, down from 379,753 at the end of the previous reported quarter. Crawford Investment Counsel Inc who had been investing in Stryker Corp for a number of months, seems to be less bullish one the $47.46 billion market cap company. The stock is up 1.51% or $1.84 hitting $123.74, despite the negative news. About 1.67M shares traded hands or 22.79% up from the average. Stryker Corporation (NYSE:SYK) has risen 8.27% since June 7, 2016 and is uptrending. It has outperformed by 0.85% the S&P500.

Crawford Investment Counsel Inc, which manages about $4.53B and $2.73 billion US Long portfolio, upped its stake in Perrigo Co Plc (NYSE:PRGO) by 37,275 shares to 394,398 shares, valued at $36.42M in 2016Q3, according to the filing. It also increased its holding in Flowers Foods Inc (NYSE:FLO) by 258,307 shares in the quarter, for a total of 724,016 shares, and has risen its stake in American Express Co (NYSE:AXP).

Crawford Investment Counsel Inc is a Georgia-based institutional investor with more than $4.53 billion AUM in November, 2014. Taken from Crawford Investment Counsel latest Adv, the fund reported to have 35 full and part-time employees. Among which 18 performing investment advisory and research functions. The institutional investor had more than 600 clients.

Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q3. Its down 0.14, from 0.93 in 2016Q2. The ratio worsened, as 46 funds sold all SYK shares owned while 343 reduced positions. 65 funds bought stakes while 244 increased positions. They now own 277.33 million shares or 0.60% less from 279.01 million shares in 2016Q2. Cwh Cap Mngmt has 3,831 shares for 0.31% of their US portfolio. British Columbia Inv Management holds 144,761 shares or 0.17% of its portfolio. Mirae Asset Invests Co Ltd has 7,332 shares for 0.02% of their US portfolio. Independent Order Of Foresters has invested 0.25% of its portfolio in Stryker Corporation (NYSE:SYK). Perigon Wealth Mngmt Lc accumulated 300 shares or 0.01% of the stock. First Comml Bank Na holds 41,374 shares or 0.89% of its portfolio. Nichols & Pratt Advisers Llp Ma accumulated 70,575 shares or 0.75% of the stock. Thompson Davis And has invested 0.06% of its portfolio in Stryker Corporation (NYSE:SYK). Sigma Planning has 0.14% invested in the company for 10,152 shares. Gofen & Glossberg Ltd Llc Il accumulated 9,299 shares or 0.04% of the stock. The New York-based Amalgamated Bancorporation has invested 0.18% in Stryker Corporation (NYSE:SYK). Noesis Mangement accumulated 3.2% or 63,810 shares. Braver Wealth Mgmt last reported 2,375 shares in the company. Advisory holds 0% of its portfolio in Stryker Corporation (NYSE:SYK) for 859 shares. Bedrijfstakpensioenfonds Voor De Media Pno last reported 1.29% of its portfolio in the stock.

Insider Transactions: Since July 12, 2016, the stock had 2 insider buys, and 62 insider sales for $84.98 million net activity. The insider STRYKER RONDA E sold $1.38M. On Friday, July 29 the insider Doliveux Roch bought $5,308. Shares for $1.11 million were sold by COX HOWARD E JR on Monday, August 1. $1.40M worth of Stryker Corporation (NYSE:SYK) was sold by Becker Yin C. Lobo Kevin also sold $3.04 million worth of Stryker Corporation (NYSE:SYK) on Thursday, November 3.

Analysts await Stryker Corporation (NYSE:SYK) to report earnings on January, 24. They expect $1.76 EPS, up 12.82% or $0.20 from last year’s $1.56 per share. SYK’s profit will be $675.03M for 17.57 P/E if the $1.76 EPS becomes a reality. After $1.39 actual EPS reported by Stryker Corporation for the previous quarter, Wall Street now forecasts 26.62% EPS growth.

More recent Stryker Corporation (NYSE:SYK) news were published by: Twst.com which released: “Stryker Corporation: Stryker provides 2016 preliminary net sales results” on January 10, 2017. Also Mlive.com published the news titled: “Stryker to build $130-million corporate campus in Portage, add 105 jobs” on December 20, 2016. Areadevelopment.com‘s news article titled: “Stryker Corporation’s instruments division plans to establish a new 485000 …” with publication date: December 28, 2016 was also an interesting one.

According to Zacks Investment Research, “Stryker Corporation develops, manufactures, and markets specialty surgical and medical products, including orthopaedic implants, bone cement, trauma systems used in bone repair, powered surgical instruments, endoscopic systems, craniomaxillofacial fixation devices, specialty surgical equipment used in neurosurgery and patient care and handling equipment for the global market and provide outpatient physical and occupational rehabilitation services.”

Stryker Corporation (NYSE:SYK) Ratings Coverage

Out of 19 analysts covering Stryker Corporation (NYSE:SYK), 12 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 63% are positive. Stryker Corporation has been the topic of 27 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Brean Capital upgraded the stock to “Buy” rating in Wednesday, January 27 report. RBC Capital Markets maintained it with “Outperform” rating and $108 target price in Friday, July 24 report. BMO Capital Markets downgraded Stryker Corporation (NYSE:SYK) on Monday, December 14 to “Underperform” rating. The rating was downgraded by Goldman Sachs on Friday, November 13 to “Neutral”. Nomura initiated the shares of SYK in a report on Thursday, March 17 with “Neutral” rating. The firm has “Buy” rating by SunTrust given on Friday, October 14. The stock of Stryker Corporation (NYSE:SYK) has “Sell” rating given on Thursday, November 12 by Citigroup. Needham downgraded the stock to “Hold” rating in Monday, September 28 report. The company was upgraded on Tuesday, November 1 by BMO Capital Markets. The stock has “Buy” rating given by UBS on Thursday, December 15.

SYK Company Profile

Stryker Corporation (Stryker), incorporated on February 20, 1946, is a medical technology company. The Firm operates through three divisions: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Firm offers its products to doctors, hospitals and other healthcare facilities. The Company’s products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment, and neurosurgical, neurovascular and spinal devices, as well as other medical device products used in a range of medical specialties. The Company’s products are sold in approximately 100 countries through the Company-owned sales subsidiaries and branches, as well as third-party dealers and distributors. The Firm offers a 1588 advanced imaging modalities (AIM) platform, which is designed for optimum visualization across surgical specialties.

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