Transcend Capital Advisors LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Transcend Capital Advisors LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,174 shares of the medical technology company’s stock after purchasing an additional 400 shares during the period. Transcend Capital Advisors LLC’s holdings in Stryker were worth $2,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH grew its position in shares of Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after buying an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its holdings in Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares in the last quarter. Meritage Portfolio Management acquired a new position in Stryker in the fourth quarter valued at approximately $569,000. Finally, DNB Asset Management AS boosted its holdings in Stryker by 5.7% in the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after purchasing an additional 4,143 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock traded down $1.54 during midday trading on Friday, reaching $335.61. 1,063,790 shares of the company were exchanged, compared to its average volume of 1,108,426. The company has a market capitalization of $127.69 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 2.70 and a beta of 0.89. The firm’s 50-day simple moving average is $348.88 and its 200-day simple moving average is $315.16. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. On average, analysts anticipate that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last 90 days. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of a number of research analyst reports. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and upped their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Citigroup upped their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada upped their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $340.67.

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.