R Squared Ltd Makes New Investment in Stryker Corporation $SYK

R Squared Ltd acquired a new stake in Stryker Corporation (NYSE:SYK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,028 shares of the medical technology company’s stock, valued at approximately $1,489,000. Stryker comprises approximately 0.6% of R Squared Ltd’s holdings, making the stock its 25th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Terra Alpha Investments LLC acquired a new stake in Stryker in the third quarter valued at $1,216,000. Diversified Trust Co increased 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 acquired a new stake in shares of Stryker in the 2nd quarter valued at about $4,785,000. AXQ Capital LP bought a new position in shares of Stryker during the second quarter worth about $567,000. Finally, National Pension Service grew its stake in Stryker by 2.4% in the third quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock worth $252,805,000 after purchasing an additional 16,254 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SYK shares. Sanford C. Bernstein upped their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research note on Tuesday, January 6th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a report on Monday, January 26th. Evercore set a $390.00 target price on shares of Stryker in a report on Monday, January 5th. Finally, Needham & Company LLC lifted their price target on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a report on Friday, January 30th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Performance

SYK stock opened at $386.04 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The stock has a market capitalization of $147.73 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.24 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. The stock’s fifty day moving average is $362.53 and its two-hundred day moving average is $369.14.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.01 EPS. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is currently 41.90%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

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.