Stryker Co. (NYSE:SYK) is New Vernon Investment Management LLC's 8th Largest Position

New Vernon Investment Management LLC boosted its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 793.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,300 shares of the medical technology company's stock after acquiring an additional 17,140 shares during the period. Stryker accounts for 4.2% of New Vernon Investment Management LLC's holdings, making the stock its 8th biggest position. New Vernon Investment Management LLC's holdings in Stryker were worth $6,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after buying an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after purchasing an additional 54,693 shares during the last quarter. FMR LLC increased its holdings in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares during the period. Geode Capital Management LLC lifted its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the period. Finally, Norges Bank purchased a new stake in Stryker in the fourth quarter valued at $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Up 1.2 %

Shares of SYK stock traded up $4.43 on Tuesday, hitting $370.92. 1,104,114 shares of the stock traded hands, compared to its average volume of 1,586,482. The firm's 50-day moving average price is $367.37 and its two-hundred day moving average price is $373.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $141.58 billion, a PE ratio of 47.80, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 company earned $3.46 EPS. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid 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 yield of 0.91%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Canaccord Genuity Group boosted their price objective on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $423.53.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

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.