Neo Ivy Capital Management Acquires Shares of 2,674 Stryker Co. (NYSE:SYK)

Neo Ivy Capital Management bought a new stake in Stryker Co. (NYSE:SYK - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,674 shares of the medical technology company's stock, valued at approximately $966,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the firm's 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Insiders own 5.90% of the company's stock.

Stryker Price Performance

SYK stock traded down $1.15 during trading on Thursday, hitting $375.01. The stock had a trading volume of 846,011 shares, compared to its average volume of 1,260,068. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The stock has a market cap of $142.96 billion, a price-to-earnings ratio of 40.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The company's 50 day moving average price is $372.42 and its two-hundred day moving average price is $354.51. 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 data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm 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 dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker's dividend payout ratio is 36.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SYK shares. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an "outperform" rating and a $405.00 target price on the stock. Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Wednesday. Morgan Stanley raised Stryker from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $425.00 price target (up from $400.00) on shares of Stryker in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $404.35.

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.