Ninety One North America Inc. Buys 522 Shares of Stryker Co. (NYSE:SYK)

Ninety One North America Inc. lifted its stake in Stryker Co. (NYSE:SYK) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,545 shares of the medical technology company’s stock after acquiring an additional 522 shares during the period. Ninety One North America Inc.’s holdings in Stryker were worth $5,553,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Quarry LP bought a new position in Stryker in the 1st quarter worth approximately $27,000. Freedom Wealth Alliance LLC bought a new position in Stryker in the 4th quarter worth approximately $26,000. HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter worth approximately $37,000. Finally, Bourgeon Capital Management LLC bought a new position in Stryker in the 4th quarter worth approximately $37,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. Citigroup lifted their price target on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Roth Mkm lifted their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

SYK stock traded down $6.96 during trading on Thursday, hitting $329.07. The company had a trading volume of 791,699 shares, compared to its average volume of 1,245,402. The company has a fifty day moving average price of $350.57 and a two-hundred day moving average price of $312.03. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market cap of $125.20 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.72 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 EPS. Equities research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is currently 38.79%.

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.