Jackson Square Capital LLC Sells 1,143 Shares of Stryker Co. (NYSE:SYK)

Jackson Square Capital LLC lowered its position in Stryker Co. (NYSE:SYK - Free Report) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,964 shares of the medical technology company's stock after selling 1,143 shares during the quarter. Jackson Square Capital LLC's holdings in Stryker were worth $2,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC acquired a new position in Stryker during the third quarter worth $762,798,000. International Assets Investment Management LLC increased its holdings in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock valued at $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker during the 3rd quarter valued at about $143,392,000. State Street Corp raised its stake in shares of Stryker by 2.2% in the 3rd 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 in the last quarter. Finally, FMR LLC boosted its position in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Tuesday, January 7th. Finally, Citigroup upped their target price on shares of Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $405.80.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK traded up $2.12 during mid-day trading on Friday, reaching $383.91. The stock had a trading volume of 1,727,106 shares, compared to its average volume of 1,070,245. The firm has a 50 day simple moving average of $375.51 and a two-hundred day simple moving average of $358.98. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. 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 36.01%.

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.