Van ECK Associates Corp Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Van ECK Associates Corp lifted its stake in Stryker Co. (NYSE:SYKGet Rating) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,711 shares of the medical technology company’s stock after buying an additional 120 shares during the period. Van ECK Associates Corp’s holdings in Stryker were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Hazlett Burt & Watson Inc. purchased a new position in Stryker during the 3rd quarter worth approximately $41,000. EverSource Wealth Advisors LLC increased its stake in Stryker by 41.4% in the first quarter. EverSource Wealth Advisors LLC now owns 164 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 48 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in shares of Stryker during the second quarter worth about $44,000. Atticus Wealth Management LLC grew its holdings in shares of Stryker by 532.4% during the second quarter. Atticus Wealth Management LLC now owns 234 shares of the medical technology company’s stock worth $47,000 after buying an additional 197 shares during the last quarter. Finally, Charter Oak Capital Management LLC purchased a new stake in Stryker during the 2nd quarter valued at approximately $50,000. 77.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. BTIG Research increased their price target on Stryker from $232.00 to $268.00 in a report on Wednesday, December 21st. Evercore ISI raised their price objective on shares of Stryker to $265.00 in a research report on Tuesday, January 3rd. Canaccord Genuity Group cut Stryker from a “buy” rating to a “hold” rating and dropped their target price for the stock from $225.00 to $220.00 in a research report on Tuesday, November 1st. Cowen lifted their price target on Stryker from $233.00 to $283.00 in a research note on Wednesday, December 14th. Finally, TheStreet raised Stryker from a “c+” rating to a “b” rating in a report on Tuesday, November 22nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $260.68.

Stryker Price Performance

Shares of NYSE SYK opened at $259.82 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $98.32 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $279.28. The business has a 50 day simple moving average of $238.33 and a 200-day simple moving average of $220.88.

Stryker (NYSE:SYKGet Rating) last posted its quarterly earnings results on Monday, October 31st. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.12). The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.46 billion. Stryker had a return on equity of 22.27% and a net margin of 13.69%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 9.17 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, December 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Stryker’s previous quarterly dividend of $0.70. Stryker’s payout ratio is currently 46.66%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 67,232 shares of the company’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $239.68, for a total transaction of $16,114,165.76. Following the completion of the transaction, the chief executive officer now owns 80,770 shares in the company, valued at $19,358,953.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Kevin Lobo sold 67,232 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $239.68, for a total value of $16,114,165.76. Following the completion of the transaction, the chief executive officer now directly owns 80,770 shares of the company’s stock, valued at approximately $19,358,953.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 3,536 shares of Stryker stock in a transaction on Monday, January 9th. The shares were sold at an average price of $260.00, for a total value of $919,360.00. Following the sale, the vice president now directly owns 9,264 shares in the company, valued at approximately $2,408,640. The disclosure for this sale can be found here. Insiders sold a total of 80,079 shares of company stock worth $19,354,832 in the last three months. 6.70% of the stock is owned by insiders.

Stryker Profile

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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