Quantbot Technologies LP Invests $6.04 Million in Stryker Corporation $SYK

Quantbot Technologies LP acquired a new stake in shares of Stryker Corporation (NYSE:SYK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,342 shares of the medical technology company’s stock, valued at approximately $6,041,000.

Several other hedge funds also recently bought and sold shares of the business. Ibex Wealth Advisors bought a new stake in shares of Stryker during the third quarter worth $510,000. Allianz SE increased its stake in Stryker by 9.4% in the 3rd quarter. Allianz SE now owns 3,130 shares of the medical technology company’s stock worth $1,157,000 after buying an additional 270 shares during the period. Andra AP fonden purchased a new position in Stryker in the 3rd quarter worth about $1,709,000. R Squared Ltd bought a new stake in Stryker during the 3rd quarter valued at about $1,489,000. Finally, Diversify Wealth Management LLC boosted its position in Stryker by 9.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 11,544 shares of the medical technology company’s stock valued at $4,135,000 after buying an additional 992 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYK. Wells Fargo & Company raised their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research report on Tuesday, January 6th. Barclays reissued an “overweight” rating and set a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. Finally, Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Friday, December 19th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.47.

Stryker Stock Up 0.3%

Stryker stock opened at $387.34 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The firm has a market cap of $148.23 billion, a P/E ratio of 46.11, a P/E/G ratio of 2.26 and a beta of 0.87. The business has a fifty day moving average of $363.17 and a two-hundred day moving average of $369.16. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.01 EPS. On average, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.