Voya Investment Management LLC Purchases 312,434 Shares of Stryker Co. (NYSE:SYK)

Voya Investment Management LLC raised its stake in Stryker Co. (NYSE:SYK - Free Report) by 79.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 706,724 shares of the medical technology company's stock after purchasing an additional 312,434 shares during the quarter. Voya Investment Management LLC owned 0.19% of Stryker worth $254,412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SYK. Morse Asset Management Inc increased its position in shares of Stryker by 16.5% in the third quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company's stock valued at $509,000 after acquiring an additional 200 shares during the period. World Investment Advisors LLC grew its stake in shares of Stryker by 126.1% in the third quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company's stock worth $2,941,000 after purchasing an additional 4,541 shares during the last quarter. Arvest Bank Trust Division purchased a new position in Stryker during the 3rd quarter valued at about $245,000. Wilmington Savings Fund Society FSB lifted its holdings in Stryker by 13.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company's stock worth $16,183,000 after buying an additional 5,361 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Stryker by 13.9% in the 3rd quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company's stock worth $6,314,000 after buying an additional 2,139 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on SYK. Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. 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 report on Wednesday, January 29th. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $423.53.

Stryker Stock Performance

Shares of NYSE SYK traded up $2.83 during midday trading on Tuesday, hitting $369.32. 412,353 shares of the stock traded hands, compared to its average volume of 1,352,803. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $140.96 billion, a P/E ratio of 47.55, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a 50-day moving average of $367.37 and a two-hundred day moving average of $373.51.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 period in the prior year, the business posted $3.46 EPS. On average, equities analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.91%. Stryker's dividend payout ratio (DPR) is currently 43.30%.

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.