Paradiem LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Paradiem LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,310 shares of the medical technology company’s stock after buying an additional 111 shares during the quarter. Stryker comprises approximately 3.1% of Paradiem LLC’s holdings, making the stock its 16th largest position. Paradiem LLC’s holdings in Stryker were worth $11,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Planning LLC boosted its position in shares of Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares during the period. Alhambra Investment Management LLC raised its stake in Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after buying an additional 29 shares in the last quarter. Avestar Capital LLC raised its stake in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares in the last quarter. Union Savings Bank raised its position in shares of Stryker by 1.0% during the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after purchasing an additional 31 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its position in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $390.31 on Thursday. The firm has a market cap of $148.79 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The firm’s fifty day moving average is $375.78 and its 200-day moving average is $359.94.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SYK shares. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

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.