King Luther Capital Management Corp Buys 2,142 Shares of Stryker Co. (NYSE:SYK)

King Luther Capital Management Corp increased its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,968 shares of the medical technology company's stock after buying an additional 2,142 shares during the quarter. King Luther Capital Management Corp owned about 0.10% of Stryker worth $142,568,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYK. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter worth $762,798,000. Raymond James Financial Inc. acquired a new position in shares of Stryker during the fourth quarter worth $353,394,000. 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 last quarter. RTW Investments LP acquired a new stake in shares of Stryker during the third quarter valued at about $143,392,000. Finally, State Street Corp boosted its stake in shares of Stryker by 2.2% during 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 in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on 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 owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

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Stryker Stock Performance

Shares of SYK stock traded down $0.33 during trading hours on Wednesday, hitting $364.96. 1,027,642 shares of the company were exchanged, compared to its average volume of 1,214,564. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $139.26 billion, a price-to-earnings ratio of 46.98, a P/E/G ratio of 2.93 and a beta of 0.95. The firm has a fifty day simple moving average of $382.70 and a 200 day simple moving average of $373.40. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 last year, the firm earned $3.46 earnings per share. Research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker's payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Citigroup reaffirmed a "buy" rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $421.90.

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.