Magnetar Financial LLC Makes New $2.79 Million Investment in Stryker Co. (NYSE:SYK)

Magnetar Financial LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,744 shares of the medical technology company’s stock, valued at approximately $2,788,000.

Several other hedge funds have also recently modified their holdings of SYK. Raymond James Financial Inc. purchased a new position in Stryker during the fourth quarter valued at approximately $353,394,000. Proficio Capital Partners LLC increased its holdings in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP bought a new position in shares of Stryker in the 3rd quarter worth $143,392,000. State Street Corp lifted its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC boosted its position in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Argus set a $450.00 price objective on Stryker in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

Shares of NYSE:SYK opened at $373.69 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company’s 50 day moving average is $384.18 and its 200 day moving average is $373.85. The company has a market cap of $142.59 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

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

Stryker Dividend Announcement

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

Insider Activity at Stryker

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

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.