Stryker Co. (NYSE:SYK) Stock Position Raised by Norden Group LLC

Norden Group LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,056 shares of the medical technology company’s stock after purchasing an additional 193 shares during the period. Norden Group LLC’s holdings in Stryker were worth $380,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SYK. J. W. Coons Advisors LLC boosted its holdings in shares of Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock worth $1,315,000 after acquiring an additional 26 shares in the last quarter. Opal Wealth Advisors LLC raised its position in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 28 shares during the last quarter. Capital & Planning LLC boosted its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares in the last quarter. Alhambra Investment Management LLC grew its holdings in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in shares of Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after buying an additional 29 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on SYK shares. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group boosted their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Stryker Stock Performance

Shares of NYSE:SYK opened at $390.27 on Wednesday. The firm’s 50 day simple moving average is $381.45 and its 200 day simple moving average is $372.28. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market capitalization of $148.92 billion, a price-to-earnings ratio of 50.29, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 period last year, the firm earned $3.46 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current 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 $0.84 dividend. 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 0.86%. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.