Vestcor Inc Has $3.73 Million Stake in Stryker Co. (NYSE:SYK)

Vestcor Inc increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 24.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,335 shares of the medical technology company's stock after purchasing an additional 2,000 shares during the period. Vestcor Inc's holdings in Stryker were worth $3,734,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Dunhill Financial LLC raised its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR grew its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the third quarter valued at approximately $36,000. Hara Capital LLC acquired a new stake in shares of Stryker in the third quarter worth $42,000. Finally, HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter worth $42,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. Citigroup boosted their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday. Needham & Company LLC boosted their price objective on Stryker from $393.00 to $409.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $402.70.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company's stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock worth $24,612,275 in the last three months. Insiders own 5.50% of the company's stock.

Stryker Price Performance

NYSE:SYK traded down $6.78 during trading hours on Wednesday, reaching $375.90. The company had a trading volume of 1,213,982 shares, compared to its average volume of 1,261,801. The firm has a market capitalization of $143.30 billion, a PE ratio of 40.29, a PEG ratio of 2.90 and a beta of 0.94. The stock has a 50-day moving average of $372.00 and a two-hundred day moving average of $354.36. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. 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 earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.46 EPS. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced 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 is an increase from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's payout ratio is presently 34.30%.

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.