Parsons Capital Management Inc. RI Buys 3,160 Shares of Stryker Co. (NYSE:SYK)

Parsons Capital Management Inc. RI raised its position in Stryker Co. (NYSE:SYK) by 47.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,765 shares of the medical technology company’s stock after buying an additional 3,160 shares during the period. Parsons Capital Management Inc. RI’s holdings in Stryker were worth $3,516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Zhang Financial LLC increased its position in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the period. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Stryker during the 4th quarter worth approximately $587,000. PFW Advisors LLC acquired a new position in Stryker in the fourth quarter valued at approximately $1,350,000. Traynor Capital Management Inc. acquired a new stake in Stryker during the 4th quarter worth $324,000. Finally, Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $762,798,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Up 0.5 %

Shares of SYK opened at $396.39 on Monday. 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 Co. has a 52 week low of $310.74 and a 52 week high of $398.20. The stock has a market capitalization of $151.11 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 2.68 and a beta of 0.95. The stock has a fifty day moving average of $376.11 and a 200-day moving average of $361.15.

Stryker (NYSE:SYK) last announced its quarterly earnings results 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 firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the 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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.