Fiduciary Alliance LLC Invests $2.49 Million in Stryker Co. (NYSE:SYK)

Fiduciary Alliance LLC acquired a new stake in Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,904 shares of the medical technology company's stock, valued at approximately $2,486,000.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in Stryker by 2.2% in the 3rd 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 in the last quarter. FMR LLC grew its stake in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock valued at $790,554,000 after acquiring an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYK. Citigroup boosted their price target on shares of Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average target price of $405.80.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK traded down $4.70 during midday trading on Monday, hitting $360.96. The stock had a trading volume of 1,400,728 shares, compared to its average volume of 1,302,047. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $375.28 and a two-hundred day moving average price of $358.09. The company has a market capitalization of $137.60 billion, a PE ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal 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 given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's dividend payout ratio (DPR) is presently 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.