Choate Investment Advisors Raises Stake in Stryker Co. (NYSE:SYK)

Choate Investment Advisors boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 9.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,763 shares of the medical technology company’s stock after purchasing an additional 928 shares during the period. Choate Investment Advisors’ holdings in Stryker were worth $3,875,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker during the 4th quarter worth $25,000. Dunhill Financial LLC grew its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter worth $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker in the 4th quarter worth $33,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 1.7 %

Shares of NYSE SYK opened at $369.96 on Friday. The firm’s 50-day moving average is $383.04 and its two-hundred day moving average is $373.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market capitalization of $141.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 last year, the firm earned $3.46 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal 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 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Stryker Company 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.