HBK Sorce Advisory LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

HBK Sorce Advisory LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807 shares of the medical technology company’s stock after acquiring an additional 116 shares during the period. HBK Sorce Advisory LLC’s holdings in Stryker were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the 4th quarter valued at $25,000. Dunhill Financial LLC raised its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Rakuten Securities Inc. raised its holdings in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in Stryker during the 4th quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new stake in Stryker during the 4th quarter valued at $33,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK stock opened at $369.96 on Friday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The stock’s 50-day moving average is $383.04 and its 200 day moving average is $373.48. The company has a market cap of $141.17 billion, a P/E ratio of 47.68, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the company earned $3.46 EPS. Research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Barclays increased their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Canaccord Genuity Group increased their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 14,895 shares of the company’s stock, 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 corporate insiders.

About Stryker

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.