Rockbridge Investment Management LCC Invests $385,000 in Stryker Co. (NYSE:SYK)

Rockbridge Investment Management LCC bought a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,069 shares of the medical technology company’s stock, valued at approximately $385,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Swedbank AB increased its holdings in Stryker by 10.9% in the 3rd quarter. Swedbank AB now owns 51,070 shares of the medical technology company’s stock worth $18,450,000 after acquiring an additional 5,032 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Stryker in the third quarter worth approximately $317,000. Avestar Capital LLC increased its stake in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Stryker by 11.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company’s stock valued at $2,698,000 after purchasing an additional 792 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Stryker by 162.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,283 shares of the medical technology company’s stock valued at $52,124,000 after buying an additional 89,283 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.5 %

Shares of NYSE SYK opened at $367.34 on Thursday. The stock has a market capitalization of $140.17 billion, a P/E ratio of 47.34, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business’s 50 day moving average is $384.74 and its two-hundred day moving average is $374.29. 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 released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 EPS. As a group, research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Barclays increased their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada increased their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value 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 trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following 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 position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.