Lindbrook Capital LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Lindbrook Capital LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,407 shares of the medical technology company’s stock after buying an additional 28 shares during the quarter. Lindbrook Capital LLC’s holdings in Stryker were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Two Point Capital Management Inc. increased its holdings in Stryker by 1.1% during the 3rd quarter. Two Point Capital Management Inc. now owns 21,833 shares of the medical technology company’s stock valued at $7,887,000 after purchasing an additional 245 shares during the period. Forte Capital LLC ADV grew its position in shares of Stryker by 1.8% in the 3rd quarter. Forte Capital LLC ADV now owns 5,407 shares of the medical technology company’s stock worth $1,953,000 after buying an additional 93 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $402,000. Principal Financial Group Inc. raised its holdings in shares of Stryker by 6.2% during the third quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock valued at $143,934,000 after acquiring an additional 23,329 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Stryker by 1.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock valued at $2,920,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Canaccord Genuity Group boosted their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Argus set a $450.00 price objective on Stryker in a research report on Monday, February 3rd. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $422.15.

Stryker Price Performance

Shares of NYSE SYK opened at $381.86 on Friday. The firm has a market cap of $145.71 billion, a P/E ratio of 49.21, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $382.21 and a 200 day moving average of $372.52.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company earned $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is presently 43.30%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.