True North Advisors LLC Acquires New Shares in Stryker Co. (NYSE:SYK)

True North Advisors LLC bought a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,984 shares of the medical technology company’s stock, valued at approximately $3,595,000. Stryker comprises about 0.8% of True North Advisors LLC’s holdings, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC grew 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 worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR grew its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC purchased a new position in shares of Stryker in the third quarter worth approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SYK shares. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Trading Down 1.4 %

SYK stock opened at $390.31 on Thursday. The firm has a fifty day moving average price of $375.78 and a 200 day moving average price of $359.94. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The firm has a market cap of $148.79 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business 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 represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Stryker Profile

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.