iA Global Asset Management Inc. Has $630,000 Stock Position in Stryker Co. (NYSE:SYK)

iA Global Asset Management Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 86.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745 shares of the medical technology company's stock after selling 10,775 shares during the period. iA Global Asset Management Inc.'s holdings in Stryker were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SYK. Centennial Bank AR increased its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth $42,000. Hara Capital LLC acquired a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust lifted its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock worth $44,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

SYK traded up $1.76 on Tuesday, hitting $382.87. The company had a trading volume of 1,281,748 shares, compared to its average volume of 1,262,002. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. 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 company's fifty day moving average price is $371.49 and its 200 day moving average price is $354.02. The stock has a market cap of $145.96 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The business's revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is currently 34.30%.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 in the last quarter. Insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SYK shares. Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They set an "outperform" rating and a $405.00 price objective on the stock. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday, November 22nd. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average price target of $398.40.

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.