Fiduciary Financial Advisors bought a new stake in Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,709 shares of the medical technology company’s stock, valued at approximately $851,000.
Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Stryker by 2.1% during the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock worth $5,374,731,000 after purchasing an additional 311,507 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Stryker by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after purchasing an additional 69,851 shares in the last quarter. Wellington Management Group LLP increased its position in Stryker by 22.6% during the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after buying an additional 1,198,665 shares during the last quarter. Norges Bank acquired a new position in Stryker during the fourth quarter worth $1,822,272,000. Finally, Royal Bank of Canada raised its holdings in Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after buying an additional 199,863 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Price Performance
Stryker stock opened at $327.80 on Tuesday. The business has a 50 day simple moving average of $327.39 and a 200 day simple moving average of $332.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The company has a market capitalization of $125.73 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. Stryker Corporation has a one year low of $281.00 and a one year high of $396.86.
Stryker Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 36.48%.
Analyst Ratings Changes
A number of brokerages have issued reports on SYK. Citizens Jmp decreased their target price on Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a research report on Monday, August 3rd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on Stryker in a research report on Friday, May 1st. Barclays lowered their price objective on Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $361.00 target price on shares of Stryker in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.28.
Check Out Our Latest Research Report on SYK
Insider Activity at Stryker
In other news, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 300,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the sale, the director owned 2,301,375 shares in the company, valued at approximately $773,031,862.50. This trade represents a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 355,370 shares of company stock valued at $119,447,201 in the last ninety days. Insiders own 4.60% of the company’s stock.
Stryker Company Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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