iA Global Asset Management Inc. Buys 6,628 Shares of Stryker Co. (NYSE:SYK)

iA Global Asset Management Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 379.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,373 shares of the medical technology company’s stock after purchasing an additional 6,628 shares during the quarter. iA Global Asset Management Inc.’s holdings in Stryker were worth $3,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chicago Capital LLC increased its stake in Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after purchasing an additional 5,841 shares in the last quarter. Zhang Financial LLC increased its stake in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA increased its stake in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Metis Global Partners LLC increased its stake in Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Finally, US Bancorp DE increased its stake in Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after purchasing an additional 976 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker 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 completion of the transaction, the director now owns 14,895 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 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 approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent research reports. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Finally, Citigroup reiterated a “buy” rating and issued a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

Shares of NYSE:SYK opened at $373.69 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $142.59 billion, a PE ratio of 48.16, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a 50-day moving average price of $384.18 and a two-hundred day moving average price of $373.85.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $3.46 earnings per share. Equities analysts forecast that Stryker Co. will post 13.47 EPS 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 given 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 0.90%. Stryker’s dividend payout ratio is presently 43.30%.

Stryker Company 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.