Cerebellum GP LLC Buys Shares of 2,704 Stryker Co. (NYSE:SYK)

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Cerebellum GP LLC bought a new stake in Stryker Co. (NYSE:SYK) in the fourth quarter, HoldingsChannel reports. The fund bought 2,704 shares of the medical technology company’s stock, valued at approximately $568,000.

A number of other large investors have also bought and sold shares of SYK. Garrett Wealth Advisory Group LLC acquired a new position in shares of Stryker during the third quarter worth about $35,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Stryker during the second quarter worth about $39,000. Evoke Wealth LLC acquired a new position in shares of Stryker during the third quarter worth about $42,000. Horan Capital Advisors LLC. acquired a new position in shares of Stryker during the third quarter worth about $43,000. Finally, Institutional & Family Asset Management LLC boosted its position in shares of Stryker by 169.3% during the third quarter. Institutional & Family Asset Management LLC now owns 202 shares of the medical technology company’s stock worth $44,000 after buying an additional 127 shares during the period. 73.16% of the stock is owned by hedge funds and other institutional investors.

SYK opened at $206.75 on Thursday. Stryker Co. has a 52-week low of $160.79 and a 52-week high of $223.45. The firm has a market capitalization of $77.80 billion, a PE ratio of 28.28, a PEG ratio of 2.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.18. The business’s 50-day simple moving average is $206.99 and its 200 day simple moving average is $211.03.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.01. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Stryker’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Stryker Co. will post 8.23 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, December 30th. This is a positive change from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio is presently 31.46%.

Several research firms have recently weighed in on SYK. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Thursday, November 28th. Deutsche Bank began coverage on Stryker in a research report on Friday, January 3rd. They set a “buy” rating and a $179.00 price objective for the company. Evercore ISI raised Stryker from an “in-line” rating to an “outperform” rating in a research report on Thursday, January 2nd. Canaccord Genuity upped their price objective on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BTIG Research upped their price objective on Stryker from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, December 30th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $222.16.

In related news, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $215.85, for a total value of $582,795.00. Following the completion of the sale, the chief financial officer now owns 17,933 shares in the company, valued at approximately $3,870,838.05. The disclosure for this sale can be found here. Insiders have sold 26,652 shares of company stock worth $5,705,481 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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