Rockbridge Investment Management LCC Makes New Investment in Stryker Co. (NYSE:SYK)

Rockbridge Investment Management LCC bought a new stake in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,069 shares of the medical technology company's stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Stryker in the fourth quarter worth $353,394,000. Proficio Capital Partners LLC raised its stake in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after buying an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in Stryker in the third quarter valued at $143,392,000. State Street Corp boosted its position in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the period. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Citigroup reissued a "buy" rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Barclays lifted their price target on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price target on shares of Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $421.90.

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Stryker Trading Down 0.9 %

NYSE:SYK traded down $3.16 during mid-day trading on Friday, hitting $364.38. 1,274,307 shares of the stock traded hands, compared to its average volume of 1,289,456. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $139.08 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm's 50 day moving average is $384.08 and its two-hundred day moving average is $374.32.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 quarter last year, the company earned $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. Stryker's dividend payout ratio is currently 43.30%.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated 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 sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Profile

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.