Terra Nova Asset Management LLC Has $3 Million Stake in Stryker Co. (NYSE:SYK)

Terra Nova Asset Management LLC increased its position in Stryker Co. (NYSE:SYK) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,344 shares of the medical technology company’s stock after purchasing an additional 32 shares during the period. Stryker comprises about 2.3% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. Terra Nova Asset Management LLC’s holdings in Stryker were worth $3,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR boosted its stake 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 buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $36,000. Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYK shares. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research lifted their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Stryker Stock Performance

NYSE:SYK opened at $383.91 on Monday. The firm’s 50-day moving average is $375.51 and its 200-day moving average is $358.98. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

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.