Principal Financial Group Inc. Purchases 23,329 Shares of Stryker Co. (NYSE:SYK)

Principal Financial Group Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 6.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 398,422 shares of the medical technology company's stock after purchasing an additional 23,329 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Stryker worth $143,934,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Dunhill Financial LLC grew its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR grew its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of SYK traded up $7.46 during midday trading on Friday, reaching $364.60. 3,146,655 shares of the stock were exchanged, compared to its average volume of 1,269,702. Stryker Co. has a twelve month low of $288.90 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $138.99 billion, a P/E ratio of 39.08, a PEG ratio of 2.82 and a beta of 0.94. The stock's 50 day simple moving average is $374.66 and its 200 day simple moving average is $355.78.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is presently 36.01%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYK. Barclays raised their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Stryker from $409.00 to $442.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $425.00 target price (up from $400.00) on shares of Stryker in a research note on Wednesday, December 11th. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $405.80.

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.