Fiduciary Trust Co Grows Stake in Stryker Co. (NYSE:SYK)

Fiduciary Trust Co increased its position in Stryker Co. (NYSE:SYK - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,415 shares of the medical technology company's stock after purchasing an additional 813 shares during the quarter. Fiduciary Trust Co's holdings in Stryker were worth $11,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Stryker in the 4th quarter valued at about $1,710,744,000. Raymond James Financial Inc. acquired a new position in Stryker in the 4th quarter valued at about $353,394,000. FMR LLC grew its stake in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after buying an additional 595,061 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 0.4%

Shares of SYK traded down $1.59 during mid-day trading on Friday, hitting $380.87. 758,784 shares of the company's stock traded hands, compared to its average volume of 1,356,009. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a market capitalization of $145.37 billion, a P/E ratio of 49.08, a PEG ratio of 2.93 and a beta of 0.93. The business's 50-day moving average price is $365.47 and its 200-day moving average price is $374.48.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. As a group, sell-side analysts forecast that Stryker Co. 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, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Barclays raised their price objective on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Citigroup reiterated a "buy" rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $427.05.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

About Stryker

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.