NorthRock Partners LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

NorthRock Partners LLC raised its holdings in Stryker Co. (NYSE:SYK) by 375.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,578 shares of the medical technology company’s stock after acquiring an additional 12,301 shares during the period. NorthRock Partners LLC’s holdings in Stryker were worth $5,609,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth about $25,000. Rakuten Securities Inc. boosted its position in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth approximately $30,000. BankPlus Trust Department purchased a new position in shares of Stryker during the 4th quarter valued at approximately $33,000. Finally, Activest Wealth Management acquired a new position in shares of Stryker in the 4th quarter valued at $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. JPMorgan Chase & Co. upped their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Evercore ISI decreased their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Citigroup reissued a “buy” rating and issued a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $427.05.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.0%

Shares of NYSE:SYK opened at $387.92 on Wednesday. The firm has a market capitalization of $148.06 billion, a PE ratio of 49.99, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm’s 50-day moving average is $365.43 and its two-hundred day moving average is $374.82.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm earned $2.50 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is 45.41%.

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.