Telemetry Investments L.L.C. lifted its stake in Stryker Co. (NYSE:SYK) by 16.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,403 shares of the medical technology company’s stock after purchasing an additional 193 shares during the quarter. Telemetry Investments L.L.C.’s holdings in Stryker were worth $220,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SYK. Oregon Public Employees Retirement Fund increased its holdings in shares of Stryker by 8,029.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 6,000,739 shares in the last quarter. Capital International Investors acquired a new stake in shares of Stryker in the third quarter valued at approximately $831,822,000. Capital World Investors increased its holdings in shares of Stryker by 987.2% in the third quarter. Capital World Investors now owns 1,657,979 shares of the medical technology company’s stock valued at $294,590,000 after purchasing an additional 1,505,479 shares in the last quarter. Winslow Capital Management LLC increased its holdings in shares of Stryker by 215,255.1% in the third quarter. Winslow Capital Management LLC now owns 1,109,079 shares of the medical technology company’s stock valued at $197,061,000 after purchasing an additional 1,108,564 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Stryker by 4.1% in the fourth quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock valued at $3,900,399,000 after purchasing an additional 975,678 shares in the last quarter. 75.46% of the stock is owned by institutional investors and hedge funds.
SYK has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Stryker from $200.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a research note on Friday, March 1st. Barclays set a $203.00 price objective on shares of Stryker and gave the company a “buy” rating in a research note on Friday, March 8th. Royal Bank of Canada raised their price objective on shares of Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Credit Suisse Group raised shares of Stryker to an “outperform” rating in a research note on Thursday, January 31st. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Stryker currently has an average rating of “Buy” and a consensus price target of $188.35.
Shares of NYSE SYK traded up $0.23 during midday trading on Friday, reaching $193.58. 472,344 shares of the stock were exchanged, compared to its average volume of 1,476,831. The stock has a market cap of $71.49 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.34 and a beta of 0.88. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $193.35. The company has a quick ratio of 1.41, a current ratio of 2.02 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Stryker had a net margin of 26.12% and a return on equity of 27.60%. On average, research analysts anticipate that Stryker Co. will post 8.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.07%. Stryker’s dividend payout ratio is 28.45%.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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