Parallel Advisors LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Parallel Advisors LLC lifted its stake in Stryker Co. (NYSE:SYK) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,712 shares of the medical technology company’s stock after purchasing an additional 300 shares during the period. Parallel Advisors LLC’s holdings in Stryker were worth $5,657,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SYK. GSA Capital Partners LLP purchased a new stake in Stryker during the 3rd quarter worth about $362,000. Empowered Funds LLC lifted its holdings in Stryker by 6.5% during the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after buying an additional 399 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in Stryker during the 3rd quarter worth about $256,000. Thrivent Financial for Lutherans increased its position in shares of Stryker by 6.9% during the third quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock worth $33,683,000 after purchasing an additional 5,995 shares in the last quarter. Finally, Aljian Capital Management LLC increased its position in shares of Stryker by 6.1% during the third quarter. Aljian Capital Management LLC now owns 12,605 shares of the medical technology company’s stock worth $4,554,000 after purchasing an additional 722 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 1.1 %

Shares of NYSE SYK opened at $373.65 on Tuesday. The company’s 50 day simple moving average is $383.29 and its 200 day simple moving average is $373.71. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market capitalization of $142.58 billion, a P/E ratio of 48.15, a P/E/G ratio of 2.93 and a beta of 0.95. 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 analysts’ consensus estimates 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 period in the prior year, the company earned $3.46 earnings per share. On average, analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given 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 is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analysts Set New Price Targets

A number of research firms have recently commented on SYK. Royal Bank of Canada lifted 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. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker 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.