Figure 8 Investment Strategies LLC Makes New $1.71 Million Investment in Stryker Co. (NYSE:SYK)

Figure 8 Investment Strategies LLC bought a new position in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,748 shares of the medical technology company’s stock, valued at approximately $1,710,000. Stryker makes up about 1.7% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 24th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. Activest Wealth Management acquired a new stake in shares of Stryker in the 4th quarter worth approximately $36,000. Crews Bank & Trust purchased a new position in shares of Stryker in the fourth quarter valued at $39,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker during the 3rd quarter worth $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.7 %

NYSE SYK opened at $388.28 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company’s 50 day moving average price is $377.19 and its 200 day moving average price is $366.15. The firm has a market capitalization of $148.02 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted 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 net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business posted $3.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 13.49 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is currently 43.30%.

Analyst Ratings Changes

Several equities analysts have weighed in on SYK shares. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group upped their price objective on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Barclays upped their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $420.68.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently 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.