Stryker Corporation $SYK Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 47.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,784 shares of the medical technology company’s stock after purchasing an additional 2,807 shares during the quarter. Intech Investment Management LLC’s holdings in Stryker were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Clayton Financial Group LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker during the second quarter worth $28,000. Kilter Group LLC acquired a new stake in Stryker during the second quarter valued at $29,000. Howard Hughes Medical Institute purchased a new position in Stryker in the second quarter valued at about $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Stryker in the 3rd quarter worth about $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker 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 transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYK shares. Citigroup reiterated a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Robert W. Baird set a $437.00 target price on shares of Stryker in a research note on Friday, January 30th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Sanford C. Bernstein raised their price target on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group set a $399.00 price objective on shares of Stryker in a report on Friday, January 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Price Performance

Shares of Stryker stock opened at $387.53 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $363.79 and a 200-day simple moving average of $369.15. The stock has a market capitalization of $148.30 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 2.26 and a beta of 0.85. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87.

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

Stryker Dividend Announcement

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

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.