Sunbeam Capital Management LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Sunbeam Capital Management LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 758 shares of the medical technology company's stock, valued at approximately $273,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after purchasing an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 acquiring an additional 54,693 shares during the period. FMR LLC grew its holdings in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after acquiring an additional 168,436 shares during the period. Finally, Norges Bank purchased a new position in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. Stifel Nicolaus upped their target price on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. BTIG Research set a $403.00 target price on Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Barclays upped their target price on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Stock Up 0.5%

SYK stock traded up $1.73 during midday trading on Thursday, hitting $382.12. The company's stock had a trading volume of 840,274 shares, compared to its average volume of 1,342,547. The company has a market cap of $145.85 billion, a PE ratio of 49.24, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $368.42 and its 200-day moving average is $376.23.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The business 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. On average, equities research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 0.88%. Stryker's payout ratio is 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.20% 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.