Harbor Capital Advisors Inc. Takes $1.84 Million Position in Stryker Co. (NYSE:SYK)

Harbor Capital Advisors Inc. acquired a new position in shares of Stryker Co. (NYSE:SYK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,942 shares of the medical technology company's stock, valued at approximately $1,840,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after buying an additional 54,693 shares during the period. FMR LLC lifted its stake in Stryker by 10.0% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its stake in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Stryker during the fourth quarter worth $1,710,744,000. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Finally, Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Price Performance

Shares of NYSE:SYK traded down $0.65 during trading on Thursday, reaching $380.43. 877,833 shares of the company traded hands, compared to its average volume of 1,330,801. The firm has a market capitalization of $145.21 billion, a PE ratio of 49.02, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $371.23 and its two-hundred day moving average is $375.95.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. Stryker's revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Company 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.