Dale Q Rice Investment Management Ltd Acquires New Position in Stryker Co. (NYSE:SYK)

Dale Q Rice Investment Management Ltd purchased a new position in shares of Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,630 shares of the medical technology company's stock, valued at approximately $587,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $762,798,000. Baltimore Washington Financial Advisors Inc. increased its position in shares of Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company's stock valued at $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC raised its stake in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company's stock valued at $9,754,000 after acquiring an additional 2,000 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company's stock worth $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Stryker by 126.1% during the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company's stock worth $2,941,000 after purchasing an additional 4,541 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued an "outperform" rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Barclays lifted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $405.80.

Stryker Stock Performance

Shares of NYSE SYK traded up $1.70 during trading hours on Tuesday, reaching $362.68. The stock had a trading volume of 1,175,835 shares, compared to its average volume of 1,286,275. The firm has a market cap of $138.26 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 2.82 and a beta of 0.95. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The firm has a 50-day moving average of $375.28 and a 200-day moving average of $358.09. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.34% and a return on equity of 23.07%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.93%. Stryker's dividend payout ratio is currently 36.01%.

Stryker 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.