Good Life Advisors LLC Makes New $628,000 Investment in Stryker Co. (NYSE:SYK)

Good Life Advisors LLC purchased a new position in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,096 shares of the medical technology company’s stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares in the last quarter. State Street Corp raised its holdings in shares of Stryker by 2.4% in the 2nd quarter. State Street Corp now owns 14,393,817 shares of the medical technology company’s stock valued at $4,402,083,000 after buying an additional 340,114 shares during the period. Morgan Stanley boosted its position in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after buying an additional 1,066,751 shares during the period. FMR LLC grew its position in shares of Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after buying an additional 144,208 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Stryker by 2.0% in the first quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock valued at $1,695,169,000 after buying an additional 117,786 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 0.2 %

NYSE SYK traded down $0.84 during trading on Thursday, hitting $357.87. 1,074,732 shares of the company’s stock traded hands, compared to its average volume of 1,324,313. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The stock has a fifty day moving average of $342.51 and a two-hundred day moving average of $305.23. The firm has a market cap of $135.97 billion, a P/E ratio of 43.15, a PEG ratio of 2.86 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 earnings per share. As a group, sell-side analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio is currently 38.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $360.00 price objective on shares of Stryker in a report on Thursday, February 15th. Roth Mkm raised their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company upped their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Morgan Stanley raised their price target on shares of Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and boosted their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $331.52.

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 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.