Sheets Smith Investment Management Buys Shares of 3,724 Stryker Co. (NYSE:SYK)

Sheets Smith Investment Management bought a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,724 shares of the medical technology company’s stock, valued at approximately $1,341,000.

A number of other institutional investors have also added to or reduced their stakes in SYK. Eagle Asset Management Inc. increased its position in Stryker by 7.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 23,856 shares of the medical technology company’s stock valued at $8,969,000 after purchasing an additional 1,647 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $665,000. Nwam LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $1,046,000. Kingsview Wealth Management LLC grew its position in shares of Stryker by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 14,118 shares of the medical technology company’s stock worth $5,100,000 after buying an additional 124 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Stryker by 10.9% in the 3rd quarter. Swedbank AB now owns 51,070 shares of the medical technology company’s stock worth $18,450,000 after buying an additional 5,032 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. Royal Bank of Canada lifted their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Barclays lifted their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on shares of Stryker in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Performance

Shares of NYSE SYK opened at $371.38 on Monday. The company’s fifty day moving average price is $384.28 and its 200 day moving average price is $374.12. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market capitalization of $141.71 billion, a PE ratio of 47.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 in the prior year, the firm earned $3.46 EPS. On average, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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 in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.