Board of the Pension Protection Fund Buys Shares of 400 Stryker Co. (NYSE:SYK)

Board of the Pension Protection Fund purchased a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 400 shares of the medical technology company’s stock, valued at approximately $144,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Stryker by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock valued at $267,725,000 after buying an additional 97,160 shares during the last quarter. Primecap Management Co. CA lifted its position in Stryker by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock valued at $152,262,000 after purchasing an additional 1,400 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Stryker during the 2nd quarter valued at about $369,000. Axxcess Wealth Management LLC grew its position in Stryker by 1.8% in the 2nd quarter. Axxcess Wealth Management LLC now owns 5,167 shares of the medical technology company’s stock worth $1,758,000 after purchasing an additional 93 shares during the last quarter. Finally, Argent Trust Co increased its stake in shares of Stryker by 11.7% in the second quarter. Argent Trust Co now owns 6,918 shares of the medical technology company’s stock valued at $2,354,000 after purchasing an additional 722 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK stock opened at $368.09 on Thursday. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The firm has a 50-day moving average of $375.13 and a two-hundred day moving average of $358.25. The firm has a market capitalization of $140.32 billion, a PE ratio of 39.45, a P/E/G ratio of 2.51 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s payout ratio is currently 36.01%.

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.