Sanctuary Advisors LLC lifted its holdings in Stryker Corporation (NYSE:SYK – Free Report) by 10.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,329 shares of the medical technology company’s stock after purchasing an additional 6,672 shares during the quarter. Sanctuary Advisors LLC’s holdings in Stryker were worth $22,452,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Czech National Bank raised its position in Stryker by 3.9% during the fourth quarter. Czech National Bank now owns 90,755 shares of the medical technology company’s stock valued at $31,898,000 after purchasing an additional 3,366 shares during the period. Daymark Wealth Partners LLC increased its position in shares of Stryker by 436.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 45,863 shares of the medical technology company’s stock valued at $16,119,000 after purchasing an additional 37,307 shares during the last quarter. Varma Mutual Pension Insurance Co increased its position in shares of Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company’s stock valued at $18,842,000 after purchasing an additional 5,100 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Stryker by 265.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 9,328 shares of the medical technology company’s stock valued at $3,278,000 after buying an additional 6,774 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Stryker in the third quarter worth $17,547,000. 77.09% of the stock is owned by hedge funds and other institutional investors.
Stryker Trading Up 1.7%
SYK opened at $316.46 on Thursday. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $311.28 and its two-hundred day moving average is $337.10. The company has a market capitalization of $121.32 billion, a P/E ratio of 36.63, a PEG ratio of 1.99 and a beta of 0.77. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87.
Stryker Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio is presently 40.74%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on SYK shares. Barclays reduced their target price on shares of Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. The Goldman Sachs Group restated a “neutral” rating and set a $361.00 target price on shares of Stryker in a research report on Friday, May 1st. Sanford C. Bernstein set a $410.00 price target on Stryker in a research note on Friday, May 1st. Citigroup reduced their target price on Stryker from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Argus set a $370.00 price target on shares of Stryker in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $392.52.
Get Our Latest Stock Report on Stryker
Insiders Place Their Bets
In other news, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 5,220 shares of Stryker stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the transaction, the vice president directly owned 13,137 shares in the company, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 323,264 shares of company stock worth $100,659,489 in the last three months. Corporate insiders own 4.60% of the company’s stock.
Stryker 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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