Pinnacle West Asset Management Inc. Has $275,000 Stake in Stryker Co. (NYSE:SYK)

Pinnacle West Asset Management Inc. boosted its stake in shares of Stryker Co. (NYSE:SYK) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 765 shares of the medical technology company’s stock after buying an additional 50 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Stryker were worth $275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centricity Wealth Management LLC bought a new position in Stryker during the 4th quarter worth approximately $30,000. BankPlus Trust Department acquired a new position in shares of Stryker in the 4th quarter worth approximately $33,000. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at $36,000. Finally, Activest Wealth Management acquired a new stake in shares of Stryker during the fourth quarter worth $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock opened at $390.57 on Wednesday. The company has a market capitalization of $149.03 billion, a P/E ratio of 50.33, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The business has a 50-day simple moving average of $378.78 and a two-hundred day simple moving average of $370.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $3.46 EPS. Research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Wednesday, January 29th. Argus set a $450.00 price target on Stryker in a research note on Monday, February 3rd. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $422.15.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

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.