Twinbeech Capital LP Invests $28.06 Million in Stryker Co. (NYSE:SYK)

Twinbeech Capital LP purchased a new position in Stryker Co. (NYSE:SYK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 77,924 shares of the medical technology company's stock, valued at approximately $28,057,000.

Several other large investors have also recently modified their holdings of SYK. Ritholtz Wealth Management raised its position in shares of Stryker by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 5,322 shares of the medical technology company's stock worth $1,916,000 after purchasing an additional 182 shares during the last quarter. Capital & Planning LLC raised its position in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock worth $304,000 after purchasing an additional 29 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Stryker by 2.1% in the 4th quarter. Procyon Advisors LLC now owns 2,552 shares of the medical technology company's stock worth $919,000 after purchasing an additional 53 shares during the last quarter. Merit Financial Group LLC raised its position in shares of Stryker by 20.9% in the 4th quarter. Merit Financial Group LLC now owns 8,862 shares of the medical technology company's stock worth $3,191,000 after purchasing an additional 1,535 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Stryker by 2.4% in the 4th quarter. HB Wealth Management LLC now owns 9,476 shares of the medical technology company's stock worth $3,412,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Citigroup reissued a "buy" rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Royal Bank of Canada boosted their target price on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group boosted their target price on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $427.05.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were 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 approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $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 insiders.

Stryker Trading Up 0.5%

Stryker stock opened at $394.24 on Monday. 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 has a market capitalization of $150.48 billion, a price-to-earnings ratio of 50.80, a P/E/G ratio of 2.93 and a beta of 0.93. The firm has a 50 day moving average of $366.62 and a 200 day moving average of $375.61.

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

Stryker Dividend Announcement

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

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.

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