Fmr LLC Purchases 727,850 Shares of Stryker Co. (NYSE:SYK)

FMR LLC grew its position in Stryker Co. (NYSE:SYK - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,034,844 shares of the medical technology company's stock after purchasing an additional 727,850 shares during the period. FMR LLC owned approximately 2.11% of Stryker worth $2,892,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the fourth quarter valued at $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Barclays increased their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $421.90.

Insider Buying and Selling

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

Stryker Stock Performance

Shares of NYSE:SYK traded up $3.16 during trading on Friday, reaching $351.55. 717,493 shares of the stock were exchanged, compared to its average volume of 1,352,028. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a 50-day moving average price of $376.39 and a 200-day moving average price of $373.61. 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 $134.18 billion, a PE ratio of 44.96, a PEG ratio of 2.93 and a beta of 0.93.

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 for the quarter, topping the consensus estimate 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 previous year, the company posted $3.46 earnings per share. Research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.96%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

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.