Horizon Investments LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Horizon Investments LLC grew its stake in Stryker Co. (NYSE:SYK) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,752 shares of the medical technology company’s stock after acquiring an additional 181 shares during the quarter. Horizon Investments LLC’s holdings in Stryker were worth $2,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. GSA Capital Partners LLP purchased a new stake in shares of Stryker in the third quarter valued at $362,000. Empowered Funds LLC lifted its position in shares of Stryker by 6.5% in the third quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after acquiring an additional 399 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Stryker by 6.9% in the third quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock valued at $33,683,000 after acquiring an additional 5,995 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Stryker by 10.3% in the third quarter. Drive Wealth Management LLC now owns 720 shares of the medical technology company’s stock valued at $261,000 after acquiring an additional 67 shares in the last quarter. Finally, Caprock Group LLC lifted its position in Stryker by 2.8% during the third quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company’s stock worth $3,118,000 after buying an additional 234 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK stock opened at $376.13 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a market cap of $143.52 billion, a P/E ratio of 48.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The stock has a 50-day simple moving average of $383.71 and a 200-day simple moving average of $373.82.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $3.46 earnings per share. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred 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 owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SYK shares. JPMorgan Chase & Co. increased their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Citigroup reiterated a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Royal Bank of Canada increased their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $421.90.

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.