Concurrent Investment Advisors LLC Boosts Position in Stryker Co. (NYSE:SYK)

Concurrent Investment Advisors LLC increased its stake in Stryker Co. (NYSE:SYK) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,575 shares of the medical technology company’s stock after buying an additional 1,040 shares during the period. Concurrent Investment Advisors LLC’s holdings in Stryker were worth $3,087,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its stake in Stryker by 29.2% in the 4th quarter. Handelsbanken Fonder AB now owns 249,512 shares of the medical technology company’s stock worth $89,837,000 after buying an additional 56,465 shares during the period. Mcdaniel Terry & Co. grew its holdings in Stryker by 0.4% during the 4th quarter. Mcdaniel Terry & Co. now owns 67,105 shares of the medical technology company’s stock worth $24,161,000 after acquiring an additional 242 shares in the last quarter. Sunpointe LLC bought a new position in Stryker during the 4th quarter worth about $285,000. Bryn Mawr Capital Management LLC grew its holdings in Stryker by 79.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 17,853 shares of the medical technology company’s stock worth $6,428,000 after acquiring an additional 7,922 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in Stryker by 0.4% during the 4th quarter. Private Advisor Group LLC now owns 16,027 shares of the medical technology company’s stock worth $5,771,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SYK shares. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $420.68.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $386.47 on Friday. The firm has a market cap of $147.47 billion, a PE ratio of 49.80, a PEG ratio of 2.93 and a beta of 0.96. The firm has a fifty day moving average of $377.92 and a 200 day moving average of $368.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the firm posted $3.46 EPS. As a group, research analysts predict that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Stryker Profile

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.