Obermeyer Wealth Partners Invests $957,000 in Stryker Co. (NYSE:SYK)

Obermeyer Wealth Partners bought a new stake in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,657 shares of the medical technology company’s stock, valued at approximately $957,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. MayTech Global Investments LLC lifted its position in shares of Stryker by 10.0% during the 4th quarter. MayTech Global Investments LLC now owns 41,116 shares of the medical technology company’s stock valued at $14,804,000 after buying an additional 3,749 shares in the last quarter. Meridiem Capital Partners LP purchased a new stake in shares of Stryker in the fourth quarter worth $5,900,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Stryker by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,503 shares of the medical technology company’s stock valued at $21,784,000 after purchasing an additional 754 shares during the period. Investor s Fiduciary Advisor Network LLC bought a new position in Stryker in the 4th quarter worth $483,000. Finally, Guardian Wealth Advisors LLC NC increased its stake in Stryker by 28.5% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 1,164 shares of the medical technology company’s stock worth $419,000 after buying an additional 258 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BTIG Research set a $403.00 price target on Stryker and gave the company a “buy” rating in a research note on Monday, April 14th. Roth Mkm lifted their price objective on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $427.05.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s 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 transaction, the director now directly 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 disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 1.9%

Shares of NYSE SYK opened at $387.97 on Tuesday. 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 $148.08 billion, a P/E ratio of 50.00, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a 50 day simple moving average of $365.31 and a 200-day simple moving average of $374.73. 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 issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the company earned $2.50 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is 45.41%.

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.