National Bank of Canada FI Acquires 26,319 Shares of Stryker Co. (NYSE:SYK)

National Bank of Canada FI lifted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,391 shares of the medical technology company's stock after acquiring an additional 26,319 shares during the period. National Bank of Canada FI's holdings in Stryker were worth $53,134,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Bremer Bank National Association grew its position in Stryker by 4.0% in the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company's stock valued at $266,000 after buying an additional 34 shares during the last quarter. Simon Quick Advisors LLC lifted its position in Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company's stock valued at $347,000 after purchasing an additional 34 shares during the period. Consolidated Portfolio Review Corp increased its position in Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company's stock worth $294,000 after purchasing an additional 34 shares during the period. FourThought Financial Partners LLC raised its stake in shares of Stryker by 3.3% during the 4th quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company's stock worth $322,000 after buying an additional 34 shares in the last quarter. Finally, MBL Wealth LLC boosted its stake in shares of Stryker by 4.6% in the fourth quarter. MBL Wealth LLC now owns 850 shares of the medical technology company's stock valued at $255,000 after buying an additional 37 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an "outperform" rating in a research report on Monday, April 15th. Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Barclays upped their target price on Stryker from $372.00 to $376.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Stryker in a research report on Wednesday, May 1st. Four 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $365.94.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company's stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.50% of the company's stock.

Stryker Trading Down 0.9 %

Shares of SYK traded down $2.95 during mid-day trading on Monday, hitting $325.50. The company had a trading volume of 1,717,320 shares, compared to its average volume of 1,332,753. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business's 50-day simple moving average is $346.45 and its 200-day simple moving average is $318.37. The stock has a market cap of $124.00 billion, a PE ratio of 37.16, a P/E/G ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 EPS. Sell-side analysts forecast that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Wednesday, March 27th. Stryker's dividend payout ratio is currently 36.53%.

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.