Harvest Portfolios Group Inc. Has $55.03 Million Stake in Stryker Corporation $SYK

Harvest Portfolios Group Inc. raised its position in shares of Stryker Corporation (NYSE:SYK) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,868 shares of the medical technology company’s stock after purchasing an additional 3,883 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Stryker were worth $55,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Stryker during the third quarter valued at $6,041,000. Ibex Wealth Advisors purchased a new position in Stryker during the 3rd quarter valued at about $510,000. Allianz SE increased its holdings in shares of Stryker by 9.4% in the 3rd quarter. Allianz SE now owns 3,130 shares of the medical technology company’s stock valued at $1,157,000 after purchasing an additional 270 shares during the period. Andra AP fonden acquired a new position in shares of Stryker in the 3rd quarter valued at about $1,709,000. Finally, R Squared Ltd purchased a new stake in shares of Stryker in the third quarter worth approximately $1,489,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. UBS Group upped their price target on shares of Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Friday, December 19th. Finally, The Goldman Sachs Group set a $399.00 target price on Stryker in a research note on Friday, January 9th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $426.47.

Stryker Stock Up 0.3%

SYK stock opened at $387.34 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a market cap of $148.23 billion, a PE ratio of 46.11, a PEG ratio of 2.26 and a beta of 0.87. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company has a fifty day simple moving average of $363.17 and a 200 day simple moving average of $369.21.

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

Stryker Dividend Announcement

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Profile

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.