Artemis Investment Management LLP Has $60.13 Million Stake in Stryker Co. (NYSE:SYK)

Artemis Investment Management LLP grew its stake in Stryker Co. (NYSE:SYK) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,003 shares of the medical technology company’s stock after purchasing an additional 61,568 shares during the period. Artemis Investment Management LLP’s holdings in Stryker were worth $60,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dunhill Financial LLC boosted its position in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares in the last quarter. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth about $42,000. Finally, Hara Capital LLC bought a new position in Stryker in the third quarter valued at about $42,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYK. Citigroup upped their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 0.6 %

SYK stock opened at $383.91 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock’s 50 day simple moving average is $375.51 and its 200 day simple moving average is $358.81. The company has a market cap of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

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.