Charles Schwab Investment Management Inc. Purchases 30,593 Shares of Stryker Co. (NYSE:SYK)

Charles Schwab Investment Management Inc. grew its position in shares of Stryker Co. (NYSE:SYK) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,771,049 shares of the medical technology company’s stock after buying an additional 30,593 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Stryker were worth $530,358,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYK. Vanguard Group Inc. boosted its stake in Stryker by 0.5% during the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after buying an additional 143,631 shares during the period. FMR LLC increased its holdings in shares of Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after buying an additional 144,208 shares during the period. Morgan Stanley lifted its stake in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Stryker by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after acquiring an additional 103,326 shares during the period. Finally, Northern Trust Corp grew its position in Stryker by 3.9% during the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after acquiring an additional 131,590 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is owned by insiders.

Stryker Stock Up 2.0 %

Shares of Stryker stock traded up $6.64 during midday trading on Tuesday, hitting $332.14. The company had a trading volume of 1,331,236 shares, compared to its average volume of 1,332,736. The company has a 50 day moving average of $346.05 and a 200 day moving average of $318.84. The stock has a market capitalization of $126.53 billion, a P/E ratio of 37.92, a P/E/G ratio of 2.56 and a beta of 0.91. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. On average, equities analysts predict that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SYK shares. Roth Mkm increased their price objective on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. UBS Group boosted their price target on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Barclays lifted their price objective on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.94.

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.