Highland Capital Management LLC Buys Shares of 5,828 Stryker Corporation $SYK

Highland Capital Management LLC bought a new position in Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,828 shares of the medical technology company’s stock, valued at approximately $2,154,000.

Several other institutional investors have also made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the second quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker during the 2nd quarter valued at $28,000. Sachetta LLC lifted its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Kilter Group LLC bought a new stake in Stryker in the second quarter worth $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Barclays lifted their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Rothschild & Co Redburn began coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker Stock Performance

NYSE:SYK opened at $354.20 on Friday. The firm’s 50-day moving average is $363.78 and its 200-day moving average is $376.55. The company has a market cap of $135.45 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same period last year, the business earned $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The company 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 a boost 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 is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 44.15%.

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.