Brookstone Capital Management Has $1.11 Million Stock Position in Stryker Co. (NYSE:SYK)

Brookstone Capital Management boosted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,094 shares of the medical technology company's stock after acquiring an additional 706 shares during the quarter. Brookstone Capital Management's holdings in Stryker were worth $1,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC grew its position in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. RTW Investments LP bought a new position in shares of Stryker during the third quarter valued at $143,392,000. State Street Corp lifted its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Stryker by 49.8% in the 2nd 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 in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Tuesday, January 7th. BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average target price of $405.80.

Stryker Trading Up 0.6 %

SYK stock traded up $2.12 during midday trading on Friday, reaching $383.91. The company's stock had a trading volume of 1,727,106 shares, compared to its average volume of 1,369,246. The business's 50-day simple moving average is $375.35 and its 200-day simple moving average is $358.48. The stock has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's dividend payout ratio is 36.01%.

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.