Ritholtz Wealth Management Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Ritholtz Wealth Management raised its stake in Stryker Co. (NYSE:SYKFree Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,322 shares of the medical technology company’s stock after purchasing an additional 182 shares during the quarter. Ritholtz Wealth Management’s holdings in Stryker were worth $1,916,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dale Q Rice Investment Management Ltd purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $587,000. PFW Advisors LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $1,350,000. Parnassus Investments LLC purchased a new stake in shares of Stryker in the third quarter valued at approximately $762,798,000. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after buying an additional 1,554 shares in the last quarter. Finally, Sivik Global Healthcare LLC boosted its stake in shares of Stryker by 8.0% in the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Stryker stock opened at $383.91 on Friday. The firm has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. The stock has a fifty day moving average price of $375.51 and a 200 day moving average price of $358.81. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYKGet Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is currently 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Check Out Our Latest Stock Report on Stryker

About Stryker

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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