Stryker Co. (NYSE:SYK) Stake Boosted by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,407 shares of the medical technology company's stock after buying an additional 845 shares during the period. Fifth Third Bancorp's holdings in Stryker were worth $32,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. apricus wealth LLC increased its stake in Stryker by 11.5% in the fourth quarter. apricus wealth LLC now owns 1,832 shares of the medical technology company's stock valued at $660,000 after purchasing an additional 189 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Stryker by 19.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,263 shares of the medical technology company's stock valued at $2,255,000 after buying an additional 1,002 shares during the period. CX Institutional increased its stake in shares of Stryker by 18.2% during the 4th quarter. CX Institutional now owns 4,110 shares of the medical technology company's stock valued at $1,480,000 after acquiring an additional 632 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of Stryker by 4.4% during the 4th quarter. RFG Advisory LLC now owns 1,316 shares of the medical technology company's stock worth $474,000 after acquiring an additional 56 shares during the period. Finally, Brighton Jones LLC boosted its position in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Citigroup increased their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $405.80.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of Stryker stock traded up $0.58 during trading on Friday, hitting $394.08. 1,331,688 shares of the stock were exchanged, compared to its average volume of 1,117,162. The stock has a market cap of $150.23 billion, a PE ratio of 42.24, a P/E/G ratio of 2.68 and a beta of 0.95. The stock's fifty day moving average is $376.11 and its 200 day moving average is $360.98. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The company 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%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio is currently 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.