Davis Rea LTD. Acquires 8,906 Shares of Stryker Co. (NYSE:SYK)

Davis Rea LTD. increased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 32.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,458 shares of the medical technology company's stock after acquiring an additional 8,906 shares during the period. Stryker comprises about 5.6% of Davis Rea LTD.'s portfolio, making the stock its 5th biggest position. Davis Rea LTD.'s holdings in Stryker were worth $10,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 61 shares during the period. Quarry LP acquired a new position in shares of Stryker in the 1st quarter valued at about $27,000. Freedom Wealth Alliance LLC acquired a new position in shares of Stryker in the 4th quarter valued at about $26,000. Rise Advisors LLC lifted its stake in shares of Stryker by 692.9% in the 3rd quarter. Rise Advisors LLC now owns 111 shares of the medical technology company's stock valued at $30,000 after purchasing an additional 97 shares during the period. Finally, West Tower Group LLC acquired a new position in shares of Stryker in the 2nd quarter valued at about $35,000. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK traded up $3.64 on Friday, hitting $351.02. 677,501 shares of the stock traded hands, compared to its average volume of 1,015,425. The business's fifty day moving average is $349.09 and its two-hundred day moving average is $308.56. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market capitalization of $133.55 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 2.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. Stryker's revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker's dividend payout ratio (DPR) is 38.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the stock an "outperform" rating in a research note on Thursday. Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and upped their price target for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and set a $360.00 price target on the stock in a research note on Wednesday, January 31st. StockNews.com raised Stryker from a "hold" rating to a "buy" rating in a research note on Tuesday, January 23rd. Finally, Roth Mkm upped their price target on Stryker from $345.00 to $348.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $335.27.

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.