Advisors Capital Management LLC Has $20.97 Million Stake in Stryker Co. (NYSE:SYK)

Advisors Capital Management LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,237 shares of the medical technology company’s stock after purchasing an additional 1,230 shares during the period. Advisors Capital Management LLC’s holdings in Stryker were worth $20,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth approximately $25,000. Rakuten Securities Inc. lifted its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter worth $33,000. Finally, VSM Wealth Advisory LLC acquired a new position in Stryker in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.5 %

Stryker stock opened at $350.02 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average price is $375.54 and its two-hundred day moving average price is $373.55. The firm has a market capitalization of $133.60 billion, a price-to-earnings ratio of 45.11, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly 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 quarter in the prior year, the company posted $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.96%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SYK shares. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Citigroup reaffirmed a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $423.05.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker 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 directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.