Rafferty Asset Management LLC lifted its stake in Stryker Co. (NYSE:SYK - Free Report) by 11.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,909 shares of the medical technology company's stock after purchasing an additional 4,134 shares during the quarter. Rafferty Asset Management LLC's holdings in Stryker were worth $14,009,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of SYK. Raiffeisen Bank International AG bought a new position in shares of Stryker in the 4th quarter valued at approximately $32,189,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stryker in the 4th quarter valued at $1,836,000. Redwood Investments LLC boosted its stake in Stryker by 4.7% in the fourth quarter. Redwood Investments LLC now owns 18,433 shares of the medical technology company's stock worth $6,637,000 after purchasing an additional 820 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Stryker in the fourth quarter worth $7,299,000. Finally, ProShare Advisors LLC raised its position in shares of Stryker by 12.3% during the fourth quarter. ProShare Advisors LLC now owns 51,940 shares of the medical technology company's stock worth $18,701,000 after acquiring an additional 5,686 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.
Stryker Stock Down 1.4%
SYK stock traded down $5.39 during mid-day trading on Tuesday, reaching $389.30. 1,047,447 shares of the company traded hands, compared to its average volume of 1,346,784. The stock has a market cap of $148.59 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm's 50 day moving average price is $367.24 and its 200 day moving average price is $375.80.
Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. Stryker's revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.
Stryker Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker's dividend payout ratio is presently 45.41%.
Insider Activity at Stryker
In related 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 value of $75,392,000.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by insiders.
Analysts Set New Price Targets
SYK has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $427.05.
Check Out Our Latest Stock Analysis on Stryker
About Stryker
(
Free Report)
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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