Sheets Smith Investment Management Takes Position in Stryker Co. (NYSE:SYK)

Sheets Smith Investment Management bought a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,724 shares of the medical technology company's stock, valued at approximately $1,341,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. J. W. Coons Advisors LLC lifted its position in shares of Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after buying an additional 26 shares in the last quarter. Mascoma Wealth Management LLC raised its position in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after purchasing an additional 27 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock valued at $654,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC increased its stake in Stryker by 2.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after buying an additional 28 shares in the last quarter. Finally, Capital & Planning LLC lifted its position in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after acquiring an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Trading Down 0.9 %

SYK traded down $3.16 on Friday, hitting $364.38. The company had a trading volume of 1,274,307 shares, compared to its average volume of 1,289,456. The company's fifty day moving average price is $384.08 and its 200 day moving average price is $374.25. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $139.08 billion, a P/E ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly 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 period in the prior year, the business posted $3.46 EPS. As a group, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup reaffirmed a "buy" rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Barclays boosted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. Five equities research 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, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $421.90.

Stryker Company 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.