Zhang Financial LLC Buys 40,784 Shares of Stryker Co. (NYSE:SYK)

Zhang Financial LLC lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 114,889 shares of the medical technology company's stock after purchasing an additional 40,784 shares during the quarter. Stryker accounts for approximately 2.4% of Zhang Financial LLC's holdings, making the stock its 11th biggest holding. Zhang Financial LLC's holdings in Stryker were worth $41,366,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dale Q Rice Investment Management Ltd acquired a new position in Stryker in the fourth quarter worth $587,000. PFW Advisors LLC bought a new stake in Stryker during the 4th quarter worth about $1,350,000. Parnassus Investments LLC acquired a new stake in Stryker in the 3rd quarter valued at about $762,798,000. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company's stock worth $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Sivik Global Healthcare LLC lifted its position in shares of Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company's stock worth $9,754,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of a number of research reports. BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Evercore ISI boosted their target price on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Stryker from $405.00 to $427.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Finally, Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $405.80.

Stryker Stock Up 0.6 %

SYK traded up $2.12 during trading hours on Monday, hitting $383.91. 1,727,106 shares of the company's stock were exchanged, compared to its average volume of 1,070,245. The stock has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The stock's 50-day moving average is $375.51 and its two-hundred day moving average is $359.17. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio is presently 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.