Kane Investment Management Inc. Purchases Shares of 2,080 Stryker Co. (NYSE:SYK)

Kane Investment Management Inc. purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,080 shares of the medical technology company's stock, valued at approximately $749,000.

A number of other institutional investors have also recently modified their holdings of SYK. Chicago Capital LLC lifted its stake in shares of Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after acquiring an additional 5,841 shares during the last quarter. Zhang Financial LLC raised its position in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock valued at $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA boosted its stake in shares of Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after purchasing an additional 1,561 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Stryker by 0.5% in the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after buying an additional 976 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYK. Royal Bank of Canada lifted their target price on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Canaccord Genuity Group boosted 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. Stifel Nicolaus upped their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Finally, Citigroup restated a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $423.53.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at $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. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of NYSE:SYK traded down $0.21 during trading on Friday, hitting $346.46. The stock had a trading volume of 1,349,873 shares, compared to its average volume of 1,362,954. The stock has a 50-day simple moving average of $371.83 and a two-hundred day simple moving average of $373.11. The stock has a market capitalization of $132.24 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 quarter in the previous year, the business posted $3.46 EPS. On average, equities research analysts expect 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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio is currently 43.30%.

About Stryker

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.