NewEdge Wealth LLC Buys 595 Shares of Stryker Co. (NYSE:SYK)

NewEdge Wealth LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 10.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,250 shares of the medical technology company’s stock after purchasing an additional 595 shares during the period. NewEdge Wealth LLC’s holdings in Stryker were worth $2,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYK. Parnassus Investments LLC purchased a new stake in shares of Stryker in the 3rd quarter worth approximately $762,798,000. RTW Investments LP purchased a new stake in shares of Stryker in the 3rd quarter worth approximately $143,392,000. State Street Corp lifted its position in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC lifted its position in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in shares of Stryker by 1,552.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 207,889 shares of the medical technology company’s stock worth $75,102,000 after purchasing an additional 195,310 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SYK. Wells Fargo & Company increased their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup reissued a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Down 0.6 %

NYSE:SYK opened at $386.55 on Friday. The firm has a market capitalization of $147.50 billion, a P/E ratio of 49.81, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company’s fifty day moving average price is $380.50 and its 200-day moving average price is $370.92. 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 released its quarterly earnings data 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 period last year, the company earned $3.46 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s payout ratio is currently 43.30%.

Insider Transactions at Stryker

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

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.