Dana Investment Advisors Inc. Boosts Stock Position in Stryker Co. (NYSE:SYK)

Dana Investment Advisors Inc. boosted its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 35.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,377 shares of the medical technology company's stock after buying an additional 4,056 shares during the period. Dana Investment Advisors Inc.'s holdings in Stryker were worth $5,536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parnassus Investments LLC purchased a new stake in Stryker in the third quarter valued at $762,798,000. Proficio Capital Partners LLC raised its position in Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after purchasing an additional 595,061 shares during the period. RTW Investments LP purchased a new stake in Stryker in the third quarter valued at $143,392,000. State Street Corp raised its position in Stryker by 2.2% in 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 purchasing an additional 316,404 shares during the period. Finally, FMR LLC raised its position in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group boosted their price objective on Stryker from $384.00 to $427.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Finally, Truist Financial boosted their price objective on Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $422.15.

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Stryker Stock Down 0.8 %

Shares of NYSE:SYK traded down $3.03 on Friday, hitting $379.28. 1,961,830 shares of the company's stock were exchanged, compared to its average volume of 1,209,637. The firm's 50-day moving average is $382.45 and its 200 day moving average is $373.19. The company has a market capitalization of $144.73 billion, a PE ratio of 48.88, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company posted $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker's dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was 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 $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

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.