Stryker Co. (NYSE:SYK) Shares Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 31.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,616 shares of the medical technology company’s stock after buying an additional 14,461 shares during the period. Stryker makes up 0.9% of Granite Investment Partners LLC’s portfolio, making the stock its 27th biggest holding. Granite Investment Partners LLC’s holdings in Stryker were worth $21,825,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Stryker

In other 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 transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This 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 insiders.

Analyst Ratings Changes

SYK has been the topic of several research reports. Citigroup reaffirmed a “buy” rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Finally, The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $423.05.

Stryker Stock Up 0.5 %

Shares of NYSE SYK opened at $350.02 on Friday. 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 1 year low of $314.93 and a 1 year high of $406.19. The stock’s 50-day simple moving average is $375.54 and its 200-day simple moving average is $373.55. The firm has a market cap of $133.60 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm posted $3.46 EPS. As a group, equities analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio (DPR) is 43.30%.

About Stryker

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.