King Luther Capital Management Corp Boosts Stock Holdings in Stryker Corporation $SYK

King Luther Capital Management Corp increased its position in shares of Stryker Corporation (NYSE:SYK) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 461,653 shares of the medical technology company’s stock after buying an additional 14,174 shares during the period. King Luther Capital Management Corp owned 0.12% of Stryker worth $170,659,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Brighton Jones LLC grew its holdings in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the period. WBH Advisory Inc. acquired a new stake in Stryker in the 2nd quarter valued at $212,000. Schnieders Capital Management LLC. purchased a new stake in Stryker in the 2nd quarter worth $205,000. Pittenger & Anderson Inc. raised its position in Stryker by 13.0% during the second quarter. Pittenger & Anderson Inc. now owns 3,050 shares of the medical technology company’s stock worth $1,207,000 after acquiring an additional 350 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Stryker by 9.3% during the second quarter. Whittier Trust Co. now owns 4,466 shares of the medical technology company’s stock valued at $1,767,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 2.1%

Shares of SYK opened at $377.08 on Thursday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. 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 stock has a fifty day simple moving average of $359.13 and a two-hundred day simple moving average of $368.93. The company has a market capitalization of $144.30 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.

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

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Robert W. Baird set a $437.00 target price on shares of Stryker in a research note on Friday, January 30th. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research report on Friday, December 19th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Evercore set a $390.00 price objective on Stryker in a research note on Monday, January 5th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $426.94.

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.