New Age Alpha Advisors LLC Buys Shares of 2,952 Stryker Co. (NYSE:SYK)

New Age Alpha Advisors LLC purchased a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,952 shares of the medical technology company’s stock, valued at approximately $1,063,000.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Stryker during the fourth quarter valued at $1,710,744,000. Raymond James Financial Inc. bought a new stake in shares of Stryker during the 4th quarter valued at about $353,394,000. Proficio Capital Partners LLC grew its stake in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 shares during the period. RTW Investments LP bought a new stake in Stryker in the third quarter worth approximately $143,392,000. Finally, State Street Corp lifted its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 directly 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 disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Stock Up 2.3 %

Stryker stock opened at $372.73 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market cap of $142.27 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. 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 simple moving average is $383.86 and its 200 day simple moving average is $374.41.

Stryker (NYSE:SYK) last released its earnings results 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 return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the firm earned $3.46 earnings per share. Research analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.