Professional Advisory Services Inc. Has $21.34 Million Position in Stryker Co. (NYSE:SYK)

Professional Advisory Services Inc. decreased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,258 shares of the medical technology company's stock after selling 2,869 shares during the period. Stryker makes up about 2.9% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 14th largest position. Professional Advisory Services Inc.'s holdings in Stryker were worth $21,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Dunhill Financial LLC raised its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd 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 in the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the third quarter valued at about $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price target on Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $405.80.

Stryker Stock Performance

Shares of SYK stock traded up $2.12 during trading hours on Friday, reaching $383.91. The stock had a trading volume of 1,727,106 shares, compared to its average volume of 1,070,245. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a 50-day simple moving average of $375.51 and a 200-day simple moving average of $358.81. The firm has a market capitalization of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a positive change from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Stryker's payout ratio is presently 36.01%.

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.