Tectonic Advisors LLC increased its position in shares of Stryker Co. (NYSE:SYK – Get Rating) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,503 shares of the medical technology company's stock after purchasing an additional 215 shares during the quarter. Tectonic Advisors LLC's holdings in Stryker were worth $304,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Ontario Teachers Pension Plan Board lifted its holdings in shares of Stryker by 87,902.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company's stock worth $555,482,000 after purchasing an additional 2,075,371 shares during the period. Clearbridge Investments LLC lifted its holdings in Stryker by 664.0% in the second quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company's stock valued at $437,497,000 after acquiring an additional 1,911,376 shares during the period. TD Asset Management Inc. lifted its holdings in Stryker by 76.6% in the second quarter. TD Asset Management Inc. now owns 1,364,821 shares of the medical technology company's stock valued at $271,504,000 after acquiring an additional 592,179 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Stryker by 126.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 694,478 shares of the medical technology company's stock valued at $185,669,000 after acquiring an additional 388,467 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Stryker by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,437,580 shares of the medical technology company's stock valued at $384,336,000 after acquiring an additional 213,582 shares during the period. Institutional investors and hedge funds own 77.10% of the company's stock.
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Insider Activity
In related news, VP M Kathryn Fink sold 6,571 shares of the firm's stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $257.69, for a total transaction of $1,693,280.99. Following the transaction, the vice president now owns 9,264 shares in the company, valued at approximately $2,387,240.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Srikant M. Datar sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $240.25, for a total transaction of $240,250.00. Following the transaction, the director now owns 6,262 shares in the company, valued at approximately $1,504,445.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 6,571 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $257.69, for a total value of $1,693,280.99. Following the sale, the vice president now directly owns 9,264 shares of the company's stock, valued at $2,387,240.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,139 shares of company stock worth $19,150,115. 6.70% of the stock is currently owned by insiders.
Stryker Price Performance
Shares of NYSE SYK opened at $280.70 on Thursday. Stryker Co. has a 1-year low of $188.84 and a 1-year high of $281.45. The company has a market cap of $106.23 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.04 and a quick ratio of 1.19. The stock's 50-day moving average is $246.81 and its two-hundred day moving average is $225.74.
Stryker (NYSE:SYK – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The medical technology company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.16. Stryker had a return on equity of 22.70% and a net margin of 12.78%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Analysts forecast that Stryker Co. will post 9.83 EPS for the current fiscal year.
Stryker Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Stryker's previous quarterly dividend of $0.70. Stryker's dividend payout ratio is presently 48.62%.
Wall Street Analysts Forecast Growth
SYK has been the subject of a number of recent analyst reports. Cowen boosted their price objective on Stryker from $233.00 to $283.00 in a research report on Wednesday, December 14th. Evercore ISI boosted their price target on Stryker to $265.00 in a research report on Tuesday, January 3rd. Canaccord Genuity Group boosted their price target on Stryker from $220.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday. Robert W. Baird boosted their price target on Stryker from $240.00 to $287.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Loop Capital upped their target price on Stryker from $245.00 to $290.00 and gave the company a "buy" rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.32.
Stryker Company Profile
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Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.
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