Ninety One North America Inc. Has $5.55 Million Stake in Stryker Co. (NYSE:SYK)

Ninety One North America Inc. raised its stake in shares of Stryker Co. (NYSE:SYK) by 2.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,545 shares of the medical technology company’s stock after buying an additional 522 shares during the period. Ninety One North America Inc.’s holdings in Stryker were worth $5,553,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. OLD Second National Bank of Aurora boosted its stake in shares of Stryker by 0.9% in the 4th quarter. OLD Second National Bank of Aurora now owns 8,188 shares of the medical technology company’s stock worth $2,452,000 after buying an additional 75 shares during the last quarter. Peterson Wealth Services boosted its stake in shares of Stryker by 2.2% in the 4th quarter. Peterson Wealth Services now owns 12,098 shares of the medical technology company’s stock worth $3,623,000 after buying an additional 255 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Stryker by 3.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,979 shares of the medical technology company’s stock worth $3,295,000 after buying an additional 322 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Stryker by 7.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 34,107 shares of the medical technology company’s stock worth $10,214,000 after buying an additional 2,468 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its stake in shares of Stryker by 1.7% in the 4th quarter. Oakworth Capital Inc. now owns 5,908 shares of the medical technology company’s stock worth $1,769,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company boosted their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada upped their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker Stock Performance

SYK stock traded down $6.96 during midday trading on Thursday, reaching $329.07. 791,699 shares of the company’s stock traded hands, compared to its average volume of 1,245,402. The company has a 50-day moving average price of $350.57 and a two-hundred day moving average price of $312.03. 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 Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The firm has a market capitalization of $125.20 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.89.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is currently 38.79%.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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 owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction 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 owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by company insiders.

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.