Synovus Financial Corp Has $5.35 Million Holdings in Stryker Co. (NYSE:SYK)

Synovus Financial Corp boosted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,797 shares of the medical technology company's stock after purchasing an additional 2,191 shares during the quarter. Synovus Financial Corp's holdings in Stryker were worth $5,346,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in Stryker by 2.2% in the third 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. FMR LLC increased its position in shares of Stryker by 3.0% in the 3rd 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 last quarter. Geode Capital Management LLC raised its stake in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock worth $790,554,000 after purchasing an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new position in Stryker in the third quarter worth about $762,798,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business's stock in a transaction dated 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 owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company's stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK traded down $0.46 during trading on Friday, reaching $374.60. The company had a trading volume of 755,824 shares, compared to its average volume of 1,204,386. The firm's fifty day moving average is $373.36 and its 200 day moving average is $354.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market capitalization of $142.81 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $2.46 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 0.90%. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's dividend payout ratio is presently 34.30%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYK shares. Needham & Company LLC upped their price objective on Stryker from $409.00 to $442.00 and gave the company a "buy" rating in a research note on Thursday. Barclays lifted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Canaccord Genuity Group increased their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $404.35.

Stryker Company 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.