Occidental Asset Management LLC Grows Position in Stryker Corporation $SYK

Occidental Asset Management LLC raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 179.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,335 shares of the medical technology company’s stock after purchasing an additional 1,500 shares during the quarter. Occidental Asset Management LLC’s holdings in Stryker were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Stryker in the 2nd quarter worth about $1,882,173,000. Alliancebernstein L.P. lifted its position in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. purchased a new stake in shares of Stryker during the second quarter worth approximately $191,047,000. Finally, Vanguard Group Inc. raised its stake in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.5%

SYK opened at $364.45 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock has a market capitalization of $139.38 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.33 and a beta of 0.89. The business has a 50 day simple moving average of $360.20 and a 200-day simple moving average of $373.92.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the business posted $2.87 earnings per share. Stryker’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is presently 46.25%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a report on Tuesday, January 6th. Barclays boosted their target price on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.