NEOS Investment Management LLC Buys 11,760 Shares of Stryker Corporation $SYK

NEOS Investment Management LLC boosted its stake in Stryker Corporation (NYSE:SYK) by 38.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,290 shares of the medical technology company’s stock after purchasing an additional 11,760 shares during the period. NEOS Investment Management LLC’s holdings in Stryker were worth $15,633,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Terra Alpha Investments LLC purchased a new stake in shares of Stryker in the third quarter worth $1,216,000. Diversified Trust Co raised its position in shares of Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after purchasing an additional 3,899 shares during the last quarter. SVB Wealth LLC bought a new position in Stryker in the 2nd quarter worth about $4,785,000. AXQ Capital LP purchased a new stake in Stryker during the 2nd quarter valued at about $567,000. Finally, National Pension Service grew its position in Stryker by 2.4% during the 3rd quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock valued at $252,805,000 after purchasing an additional 16,254 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.8%

Stryker stock opened at $369.13 on Wednesday. The stock has a market cap of $141.26 billion, a PE ratio of 43.94, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The stock has a fifty day moving average of $358.66 and a 200 day moving average of $368.87.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period last year, the firm posted $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Robert W. Baird set a $437.00 target price on Stryker in a research note on Friday, January 30th. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a report on Friday, December 19th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $426.94.

Insiders Place Their Bets

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.90% 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.