Advisory Alpha LLC Acquires 206 Shares of Stryker Co. (NYSE:SYK)

Advisory Alpha LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,901 shares of the medical technology company’s stock after buying an additional 206 shares during the quarter. Advisory Alpha LLC’s holdings in Stryker were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC increased its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new stake in shares of Stryker during the third quarter worth $143,392,000. State Street Corp raised its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. Finally, FMR LLC lifted its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYK shares. Canaccord Genuity Group lifted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $405.80.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $390.31 on Thursday. The firm has a market capitalization of $148.79 billion, a PE ratio of 41.83, a PEG ratio of 2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company’s 50-day moving average is $375.78 and its 200-day moving average is $359.94. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20.

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

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

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.