True Link Financial Advisors LLC Invests $234,000 in Stryker Co. (NYSE:SYK)

True Link Financial Advisors LLC purchased a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 649 shares of the medical technology company’s stock, valued at approximately $234,000.

A number of other hedge funds have also made changes to their positions in SYK. Parnassus Investments LLC purchased a new stake in shares of Stryker in the third quarter worth approximately $762,798,000. International Assets Investment Management LLC lifted its position in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new stake in shares of Stryker in the third quarter worth approximately $143,392,000. State Street Corp lifted its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.6 %

Shares of SYK stock opened at $383.91 on Monday. The stock has a market cap of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The stock has a fifty day moving average price of $375.51 and a 200 day moving average price of $358.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. Analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Finally, Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.