Dana Investment Advisors Inc. Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Dana Investment Advisors Inc. raised its holdings in Stryker Co. (NYSE:SYK) by 35.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,377 shares of the medical technology company’s stock after buying an additional 4,056 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Stryker were worth $5,536,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Two Point Capital Management Inc. grew its position in Stryker by 1.1% during the 3rd quarter. Two Point Capital Management Inc. now owns 21,833 shares of the medical technology company’s stock worth $7,887,000 after purchasing an additional 245 shares during the last quarter. Forte Capital LLC ADV lifted its stake in shares of Stryker by 1.8% during the third quarter. Forte Capital LLC ADV now owns 5,407 shares of the medical technology company’s stock worth $1,953,000 after buying an additional 93 shares during the period. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Stryker during the third quarter valued at $402,000. Principal Financial Group Inc. increased its position in shares of Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock valued at $143,934,000 after acquiring an additional 23,329 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its stake in Stryker by 1.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock worth $2,920,000 after acquiring an additional 152 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 3.5 %

Shares of SYK stock opened at $381.86 on Friday. The stock has a 50 day simple moving average of $382.21 and a 200-day simple moving average of $372.52. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market cap of $145.71 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the business earned $3.46 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SYK shares. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group raised their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group raised their target price on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.