Sanibel Captiva Trust Company Inc. Raises Holdings in Stryker Co. (NYSE:SYK)

Sanibel Captiva Trust Company Inc. grew its position in shares of Stryker Co. (NYSE:SYK) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,616 shares of the medical technology company’s stock after acquiring an additional 339 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Stryker were worth $18,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in shares of Stryker during the 2nd quarter valued at $369,000. Ieq Capital LLC grew its stake in shares of Stryker by 6.0% in the second quarter. Ieq Capital LLC now owns 34,960 shares of the medical technology company’s stock valued at $11,895,000 after buying an additional 1,983 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Stryker by 0.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 133,846 shares of the medical technology company’s stock valued at $45,541,000 after buying an additional 557 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Stryker by 49.8% during the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares during the period. Finally, Bridges Investment Management Inc. lifted its holdings in Stryker by 335.4% in the 2nd quarter. Bridges Investment Management Inc. now owns 66,628 shares of the medical technology company’s stock worth $22,670,000 after buying an additional 51,327 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Up 0.6 %

Stryker stock opened at $383.91 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The company has a 50-day simple moving average of $375.35 and a 200-day simple moving average of $358.48. The firm has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

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

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Analysts Set New Price Targets

A number of research analysts recently commented on SYK shares. Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their target price 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Transactions at Stryker

In related 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 owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

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.