BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Position in Stryker Co. (NYSE:SYK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Stryker Co. (NYSE:SYK - Free Report) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,678 shares of the medical technology company's stock after purchasing an additional 8,468 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Stryker were worth $23,647,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter worth approximately $25,000. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter worth $30,000. BankPlus Trust Department purchased a new stake in shares of Stryker in the 4th quarter worth about $33,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Stryker in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Down 2.4%

Shares of SYK stock opened at $380.02 on Thursday. The firm's 50-day simple moving average is $367.95 and its 200-day simple moving average is $375.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a market cap of $145.05 billion, a P/E ratio of 48.97, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.50 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Evercore ISI reduced their target price on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, Citigroup reissued a "buy" rating and issued a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $427.05.

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.

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