899 Shares in Stryker Co. (NYSE:SYK) Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. purchased a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 899 shares of the medical technology company’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Stryker during the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC boosted its stake in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in Stryker during the 3rd quarter valued at approximately $143,392,000. State Street Corp increased its stake in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of SYK stock opened at $393.79 on Friday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $375.82 and a two-hundred day simple moving average of $360.16. The stock has a market capitalization of $150.12 billion, a price-to-earnings ratio of 42.21, a P/E/G ratio of 2.68 and a beta of 0.95.

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

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BTIG Research boosted their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.