Stryker Corporation $SYK Stock Position Lifted by Occidental Asset Management LLC

Occidental Asset Management LLC lifted its position in Stryker Corporation (NYSE:SYK) by 179.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,335 shares of the medical technology company’s stock after acquiring an additional 1,500 shares during the period. Occidental Asset Management LLC’s holdings in Stryker were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYK. Vanguard Group Inc. increased its stake in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. State Street Corp boosted its holdings in shares of Stryker by 1.0% in the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares during the period. Geode Capital Management LLC grew its position in shares of Stryker by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares during the last quarter. Alliancebernstein L.P. raised its stake in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Finally, Norges Bank acquired a new position in Stryker in the second quarter valued at approximately $1,882,173,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.5%

NYSE SYK opened at $364.45 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The business’s fifty day moving average is $360.20 and its 200 day moving average is $373.92. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The company has a market cap of $139.38 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the firm posted $2.87 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio is presently 46.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein increased their price objective on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research note on Tuesday, January 6th. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research note on Friday, January 9th. Finally, Evercore ISI set a $390.00 price objective on Stryker in a research report on Monday, January 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $430.00.

Insider Activity

In related news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 522,118 shares of company stock worth $185,381,932. Insiders own 5.90% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.