Parallel Advisors LLC Has $5.66 Million Stake in Stryker Co. (NYSE:SYK)

Parallel Advisors LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,712 shares of the medical technology company’s stock after purchasing an additional 300 shares during the quarter. Parallel Advisors LLC’s holdings in Stryker were worth $5,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Chicago Capital LLC grew its holdings in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after purchasing an additional 5,841 shares during the last quarter. Zhang Financial LLC grew its holdings in shares of Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA grew its holdings in shares of Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after purchasing an additional 976 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research reports. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Stifel Nicolaus boosted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker 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 transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $373.65 on Tuesday. The firm has a 50-day moving average of $383.29 and a 200-day moving average of $373.71. The company has a market cap 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 Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 quarter last year, the firm earned $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued 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 of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

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.