iA Global Asset Management Inc. Acquires 6,628 Shares of Stryker Co. (NYSE:SYK)

iA Global Asset Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK) by 379.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,373 shares of the medical technology company’s stock after acquiring an additional 6,628 shares during the quarter. iA Global Asset Management Inc.’s holdings in Stryker were worth $3,015,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. GSA Capital Partners LLP bought a new position in Stryker in the 3rd quarter valued at about $362,000. Prospera Private Wealth LLC bought a new position in Stryker in the 3rd quarter valued at about $124,000. Darwin Wealth Management LLC bought a new position in Stryker in the 3rd quarter valued at about $36,000. Moran Wealth Management LLC increased its holdings 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 buying an additional 34 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in Stryker by 9.9% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 55,673 shares of the medical technology company’s stock valued at $20,113,000 after buying an additional 5,033 shares during the period. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SYK. Argus set a $450.00 target price on shares of Stryker in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Down 1.2 %

NYSE:SYK opened at $373.69 on Friday. The firm’s 50 day simple moving average is $384.18 and its 200 day simple moving average is $373.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a market cap of $142.59 billion, a PE ratio of 48.16, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business posted $3.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s payout ratio is 43.30%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.