Pittenger & Anderson Inc. increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 115.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,087 shares of the medical technology company's stock after acquiring an additional 1,117 shares during the period. Pittenger & Anderson Inc.'s holdings in Stryker were worth $751,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Dunhill Financial LLC lifted its stake in 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 purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth $36,000. Activest Wealth Management acquired a new position in Stryker during the fourth quarter worth $36,000. Crews Bank & Trust acquired a new position in Stryker during the fourth quarter worth $39,000. Finally, Hara Capital LLC acquired a new position in Stryker during the third quarter worth $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SYK has been the topic of a number of research reports. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Tuesday. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $420.68.
Check Out Our Latest Stock Analysis on SYK
Stryker Stock Performance
Shares of SYK stock traded down $3.82 during mid-day trading on Friday, hitting $382.59. 1,268,413 shares of the stock were exchanged, compared to its average volume of 1,388,856. The stock's fifty day simple moving average is $378.07 and its two-hundred day simple moving average is $368.67. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.
Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the business earned $3.46 EPS. On average, analysts forecast that Stryker Co. will post 13.49 EPS for the current year.
Stryker Dividend Announcement
The business also recently declared 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio is currently 43.30%.
Insider Buying and Selling
In related news, Director Ronda E. Stryker sold 201,392 shares of the firm's 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 completion of 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 sale 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 firm's stock in a transaction dated 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 sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.
About Stryker
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Free Report)
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.
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