TD Asset Management Inc. Raises Position in Stryker Co. (NYSE:SYK)

TD Asset Management Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,264,686 shares of the medical technology company's stock after acquiring an additional 82,306 shares during the period. TD Asset Management Inc. owned 0.33% of Stryker worth $455,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Modern Wealth Management LLC raised its holdings in Stryker by 197.6% during the fourth quarter. Modern Wealth Management LLC now owns 2,845 shares of the medical technology company's stock worth $1,117,000 after purchasing an additional 1,889 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Stryker in the 4th quarter valued at $245,000. Haverford Trust Co raised its stake in Stryker by 1.2% during the 4th quarter. Haverford Trust Co now owns 214,554 shares of the medical technology company's stock worth $77,250,000 after acquiring an additional 2,506 shares in the last quarter. ICW Investment Advisors LLC lifted its position in Stryker by 0.6% in the fourth quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock valued at $1,745,000 after acquiring an additional 30 shares during the last quarter. Finally, Sheets Smith Investment Management acquired a new position in Stryker in the fourth quarter valued at $1,341,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Royal Bank of Canada raised their price target on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $421.90.

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Stryker Price Performance

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

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the business earned $3.46 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm 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 of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker's dividend payout ratio (DPR) is currently 43.30%.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on 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 sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

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.