Fort L.P. raised its position in Stryker Co. (NYSE:SYK) by 713.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,001 shares of the medical technology company’s stock after purchasing an additional 4,386 shares during the quarter. Fort L.P.’s holdings in Stryker were worth $784,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Wealth Management LLC increased its position in shares of Stryker by 103.6% during the fourth quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 86 shares during the period. Horan Securities Inc. purchased a new stake in shares of Stryker during the fourth quarter worth $30,000. Truehand Inc purchased a new stake in shares of Stryker during the fourth quarter worth $30,000. Moody National Bank Trust Division purchased a new stake in shares of Stryker during the fourth quarter worth $32,000. Finally, WESPAC Advisors SoCal LLC purchased a new stake in shares of Stryker during the fourth quarter worth $34,000. 75.46% of the stock is currently owned by institutional investors.
Shares of SYK stock opened at $193.35 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.02 and a quick ratio of 1.41. The firm has a market cap of $71.49 billion, a P/E ratio of 26.45, a PEG ratio of 2.34 and a beta of 0.88. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $193.35.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.08%. Stryker’s payout ratio is currently 28.45%.
In other Stryker news, VP Katherine Ann Owen sold 29,247 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.62, for a total value of $5,428,828.14. Following the completion of the transaction, the vice president now owns 11,131 shares in the company, valued at $2,066,136.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy J. Scannell sold 9,332 shares of the company’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $161.60, for a total transaction of $1,508,051.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,811 shares of company stock valued at $13,409,320. Insiders own 7.30% of the company’s stock.
A number of analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Stryker from $200.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Stryker in a research report on Friday, March 1st. Barclays set a $203.00 price objective on Stryker and gave the stock a “buy” rating in a research report on Friday, March 8th. Royal Bank of Canada upped their price objective on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Credit Suisse Group raised Stryker to an “outperform” rating in a research report on Thursday, January 31st. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $188.35.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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