Jefferies Financial Group Inc. Takes Position in Stryker Corporation $SYK

Jefferies Financial Group Inc. purchased a new position in shares of Stryker Corporation (NYSE:SYK) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 6,372 shares of the medical technology company’s stock, valued at approximately $2,356,000.

Several other hedge funds have also recently modified their holdings of the stock. Davis R M Inc. lifted its stake in shares of Stryker by 1.8% in the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock worth $51,285,000 after acquiring an additional 2,512 shares during the period. Terra Alpha Investments LLC acquired a new position in shares of Stryker during the third quarter worth about $1,216,000. Diversified Trust Co increased its stake in shares of Stryker by 45.6% during the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after acquiring an additional 3,899 shares during the period. SVB Wealth LLC purchased a new position in Stryker during the second quarter worth about $4,785,000. Finally, AXQ Capital LP acquired a new stake in Stryker in the second quarter valued at about $567,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK opened at $358.83 on Wednesday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The stock has a market cap of $137.32 billion, a P/E ratio of 42.72, a PEG ratio of 2.14 and a beta of 0.85. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $365.82 and a two-hundred day moving average of $368.46.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders 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 yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Wells Fargo & Company raised their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a report on Friday, December 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $428.61.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.20% of the company’s stock.

About Stryker

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.