Traynor Capital Management Inc. Makes New Investment in Stryker Co. (NYSE:SYK)

Traynor Capital Management Inc. acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 899 shares of the medical technology company’s stock, valued at approximately $324,000.

Several other hedge funds have also recently made changes to their positions in the company. Dunhill Financial LLC increased its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $393.79 on Friday. The company has a fifty day simple moving average of $375.82 and a 200-day simple moving average of $360.16. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $150.12 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 EPS. On average, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent research reports. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $405.80.

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.