Pinnacle Financial Partners Inc Acquires 84 Shares of Stryker Co. (NYSE:SYK)

Pinnacle Financial Partners Inc grew its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,795 shares of the medical technology company’s stock after acquiring an additional 84 shares during the period. Pinnacle Financial Partners Inc’s holdings in Stryker were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SYK. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $762,798,000. RTW Investments LP bought a new stake in shares of Stryker during the 3rd quarter valued at $143,392,000. State Street Corp grew its position in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC boosted its holdings in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Stryker by 1,552.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 207,889 shares of the medical technology company’s stock worth $75,102,000 after buying an additional 195,310 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.0 %

Shares of NYSE SYK opened at $382.59 on Friday. The firm’s 50-day moving average price is $378.07 and its 200-day moving average price is $368.99. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a 12-month low of $314.93 and a 12-month 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, beating 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 business posted $3.46 EPS. On average, equities research analysts anticipate that Stryker Co. will post 13.47 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the 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 of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was 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 directly owns 3,642,075 shares in the company, valued at $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. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SYK shares. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Citigroup upped their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $422.15.

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.