World Investment Advisors LLC Raises Holdings in Stryker Co. (NYSE:SYK)

World Investment Advisors LLC increased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 126.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,142 shares of the medical technology company's stock after purchasing an additional 4,541 shares during the quarter. World Investment Advisors LLC's holdings in Stryker were worth $2,941,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SYK. OFI Invest Asset Management raised its position in shares of Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company's stock valued at $1,062,000 after buying an additional 3,243 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Stryker in the 3rd quarter valued at about $762,798,000. Baltimore Washington Financial Advisors Inc. lifted its stake in Stryker by 2.4% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company's stock worth $24,089,000 after purchasing an additional 1,554 shares in the last quarter. Sivik Global Healthcare LLC boosted its holdings in shares of Stryker by 8.0% during the 3rd 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 during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company's stock valued at $210,289,000 after purchasing an additional 16,504 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.1 %

NYSE SYK traded down $0.46 during trading on Friday, hitting $374.60. The stock had a trading volume of 755,824 shares, compared to its average volume of 1,204,386. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $142.81 billion, a PE ratio of 40.15, a PEG ratio of 2.82 and a beta of 0.94. The firm has a 50 day moving average price of $373.36 and a 200 day moving average price of $354.92. 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 announced 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 firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. This is a positive change from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is currently 34.30%.

Insider Activity

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

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Piper Sandler reissued an "overweight" rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price target on Stryker from $409.00 to $442.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday. StockNews.com raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $404.35.

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.