Baker Avenue Asset Management LP Acquires 63 Shares of Stryker Co. (NYSE:SYK)

Baker Avenue Asset Management LP increased its holdings in Stryker Co. (NYSE:SYK) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,820 shares of the medical technology company’s stock after purchasing an additional 63 shares during the period. Baker Avenue Asset Management LP’s holdings in Stryker were worth $655,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SYK. Principal Financial Group Inc. lifted its holdings in Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock worth $143,934,000 after purchasing an additional 23,329 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Stryker by 15.8% during the 4th quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock worth $350,485,000 after buying an additional 132,513 shares during the period. CWA Asset Management Group LLC grew its stake in Stryker by 3.5% in the 4th quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock valued at $1,388,000 after buying an additional 131 shares during the last quarter. Regent Peak Wealth Advisors LLC bought a new position in Stryker in the 4th quarter worth $204,000. Finally, Bath Savings Trust Co lifted its position in Stryker by 0.7% during the 4th quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company’s stock worth $40,834,000 after acquiring an additional 823 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SYK. Canaccord Genuity Group lifted their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $425.84.

Stryker Stock Performance

Stryker stock opened at $381.42 on Tuesday. The firm has a market capitalization of $145.59 billion, a P/E ratio of 49.15, a P/E/G ratio of 2.93 and a beta of 0.93. The stock has a fifty day moving average price of $366.18 and a two-hundred day moving average price of $374.00. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. 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 (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.84 per share. The ex-dividend date was Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio is 45.41%.

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.