NovaPoint Capital LLC Buys Shares of 2,857 Stryker Corporation $SYK

NovaPoint Capital LLC bought a new position in Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,857 shares of the medical technology company’s stock, valued at approximately $1,056,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. State Street Corp raised its holdings in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after buying an additional 79,654 shares during the last quarter. 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 worth $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Stryker during the 2nd quarter worth about $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYK. Needham & Company LLC reissued a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research note on Friday, November 14th. Evercore ISI lowered their price target on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $431.84.

Stryker Stock Down 0.2%

Shares of SYK stock opened at $354.20 on Friday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The firm has a market cap of $135.45 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The stock has a 50 day moving average of $363.78 and a 200-day moving average of $376.49.

Stryker (NYSE:SYK) last announced 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. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.87 earnings per share. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given 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 dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

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.