Granite Investment Partners LLC Increases Stock Position in Stryker Co. (NYSE:SYK)

Granite Investment Partners LLC boosted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,616 shares of the medical technology company's stock after acquiring an additional 14,461 shares during the quarter. Stryker comprises about 0.9% of Granite Investment Partners LLC's investment portfolio, making the stock its 27th biggest holding. Granite Investment Partners LLC's holdings in Stryker were worth $21,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Capital Management LLC boosted its holdings in Stryker by 2.2% during the fourth quarter. Advisors Capital Management LLC now owns 58,237 shares of the medical technology company's stock worth $20,969,000 after buying an additional 1,230 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $1,100,000. Optimize Financial Inc acquired a new stake in Stryker in the fourth quarter valued at approximately $220,000. Townsquare Capital LLC boosted its holdings in Stryker by 15.7% in the fourth quarter. Townsquare Capital LLC now owns 8,643 shares of the medical technology company's stock worth $3,112,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Crux Wealth Advisors bought a new stake in Stryker during the fourth quarter worth approximately $1,201,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the 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 sale, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYK shares. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. Citigroup reissued a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Stifel Nicolaus increased their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $423.05.

Stryker Price Performance

SYK traded down $6.54 during trading on Tuesday, reaching $346.88. 1,670,378 shares of the company were exchanged, compared to its average volume of 1,361,570. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company's 50-day moving average is $373.64 and its two-hundred day moving average is $373.40. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $132.40 billion, a price-to-earnings ratio of 44.70, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm posted $3.46 earnings per share. Research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Stryker's dividend payout ratio is 43.30%.

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.