Rafferty Asset Management LLC Has $14.12 Million Position in Stryker Corporation $SYK

Rafferty Asset Management LLC grew its holdings in shares of Stryker Corporation (NYSE:SYK) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,185 shares of the medical technology company’s stock after purchasing an additional 1,826 shares during the quarter. Rafferty Asset Management LLC’s holdings in Stryker were worth $14,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Stryker by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after acquiring an additional 272,828 shares during the period. State Street Corp lifted its position in Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after buying an additional 150,204 shares in the last quarter. Geode Capital Management LLC grew its stake in Stryker by 1.1% in the second 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 purchasing an additional 79,654 shares in the last quarter. Alliancebernstein L.P. increased its holdings 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 buying an additional 4,223,366 shares during the last quarter. Finally, Norges Bank acquired a new stake in Stryker in the 2nd quarter valued at about $1,882,173,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Needham & Company LLC upped their price objective on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group set a $399.00 price target on Stryker in a research note on Friday, January 9th. Finally, Robert W. Baird set a $437.00 price target on Stryker in a report on Friday, January 30th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.47.

Stryker Price Performance

Shares of Stryker stock opened at $387.34 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a market cap of $148.23 billion, a PE ratio of 46.11, a P/E/G ratio of 2.26 and a beta of 0.87. The business has a 50 day moving average of $363.17 and a 200 day moving average of $369.09.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker 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.