Parametric Portfolio Associates LLC increased its position in shares of Stryker Corporation (NYSE:SYK) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,287 shares of the medical technology company’s stock after acquiring an additional 50,324 shares during the quarter. Parametric Portfolio Associates LLC owned 0.20% of Stryker worth $104,994,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stryker by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after buying an additional 657,656 shares during the period. BlackRock Inc. increased its stake in Stryker by 5.2% in the 2nd quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after buying an additional 1,139,082 shares during the period. Jensen Investment Management Inc. increased its stake in Stryker by 11.3% in the 3rd quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after buying an additional 251,685 shares during the period. Legal & General Group Plc increased its stake in Stryker by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock valued at $256,393,000 after buying an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Stryker by 4.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock valued at $247,536,000 after buying an additional 79,551 shares during the period. Institutional investors and hedge funds own 74.97% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) opened at $154.25 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. The company has a market cap of $57,726.21, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.78. Stryker Corporation has a 1 year low of $116.50 and a 1 year high of $160.62.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. sell-side analysts predict that Stryker Corporation will post 6.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a dividend of $0.47 per share. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s dividend payout ratio is currently 36.32%.
SYK has been the topic of several research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $155.00 price objective on shares of Stryker in a research note on Friday, September 1st. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $161.00 to $173.00 in a research note on Thursday, November 16th. Argus reiterated a “buy” rating and issued a $160.00 price objective on shares of Stryker in a research note on Tuesday, August 29th. Zacks Investment Research lowered shares of Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Stifel Nicolaus upped their price objective on shares of Stryker from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. Stryker has an average rating of “Hold” and an average price target of $153.19.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is currently owned by corporate insiders.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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