TD Asset Management Inc. Raises Holdings in Stryker Co. (NYSE:SYK)

TD Asset Management Inc. boosted its stake in Stryker Co. (NYSE:SYK) by 7.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,264,686 shares of the medical technology company’s stock after acquiring an additional 82,306 shares during the period. TD Asset Management Inc.’s holdings in Stryker were worth $455,350,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter valued at $25,000. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of 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 buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department acquired a new stake in Stryker during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYK. Royal Bank of Canada increased their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a report on Tuesday, March 4th. Finally, Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Five research 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 an average price target of $421.90.

Stryker Price Performance

Shares of NYSE SYK opened at $374.43 on Tuesday. 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 Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market capitalization of $142.87 billion, a price-to-earnings ratio of 48.25, a PEG ratio of 2.93 and a beta of 0.95. The business has a 50-day moving average of $384.55 and a 200-day moving average of $374.24.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date 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 currently 43.30%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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.