St. Clair Advisors LLC Acquires New Holdings in Stryker Co. (NYSE:SYK)

St. Clair Advisors LLC purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,593 shares of the medical technology company's stock, valued at approximately $3,814,000. Stryker accounts for about 1.1% of St. Clair Advisors LLC's investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors also recently modified their holdings of SYK. Ritholtz Wealth Management raised its position in shares of Stryker by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 5,322 shares of the medical technology company's stock valued at $1,916,000 after purchasing an additional 182 shares during the period. Capital & Planning LLC raised its position in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after purchasing an additional 29 shares during the period. Procyon Advisors LLC raised its position in shares of Stryker by 2.1% in the fourth quarter. Procyon Advisors LLC now owns 2,552 shares of the medical technology company's stock valued at $919,000 after purchasing an additional 53 shares during the period. Merit Financial Group LLC raised its position in shares of Stryker by 20.9% in the fourth quarter. Merit Financial Group LLC now owns 8,862 shares of the medical technology company's stock valued at $3,191,000 after purchasing an additional 1,535 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of Stryker by 2.4% in the fourth quarter. HB Wealth Management LLC now owns 9,476 shares of the medical technology company's stock worth $3,412,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.5%

Shares of NYSE SYK opened at $394.24 on Monday. The stock has a market cap of $150.48 billion, a PE ratio of 50.80, a PEG ratio of 2.93 and a beta of 0.93. The business has a fifty day moving average of $366.62 and a two-hundred day moving average of $375.61. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during 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 business's revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $2.50 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker's payout ratio is presently 45.41%.

Insider Activity at Stryker

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

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Citigroup restated a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Barclays raised their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock 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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.