Dale Q Rice Investment Management Ltd Makes New Investment in Stryker Co. (NYSE:SYK)

Dale Q Rice Investment Management Ltd acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,630 shares of the medical technology company’s stock, valued at approximately $587,000.

A number of other large investors also recently modified their holdings of the company. Avestar Capital LLC raised its holdings in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares in the last quarter. Grimes & Company Inc. raised its holdings in Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after acquiring an additional 33 shares during the last quarter. Moran Wealth Management LLC lifted its position in Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after acquiring an additional 34 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in Stryker by 0.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 7,547 shares of the medical technology company’s stock valued at $2,719,000 after purchasing an additional 35 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYK. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Down 1.3 %

Shares of NYSE:SYK opened at $360.96 on Tuesday. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The company has a market cap of $137.60 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The stock has a 50 day moving average of $375.28 and a 200 day moving average of $358.09. 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:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. Stryker’s dividend payout ratio is 36.01%.

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.