Keybank National Association OH Increases Stake in Stryker Co. (NYSE:SYK)

Keybank National Association OH lifted its stake in Stryker Co. (NYSE:SYK) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,991 shares of the medical technology company’s stock after purchasing an additional 1,183 shares during the quarter. Keybank National Association OH’s holdings in Stryker were worth $9,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Parnassus Investments LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $762,798,000. Proficio Capital Partners LLC raised its position in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after purchasing an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in Stryker in the 3rd quarter worth approximately $143,392,000. State Street Corp increased its holdings in 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 buying an additional 316,404 shares during the period. Finally, FMR LLC increased its holdings in 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 buying an additional 215,782 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’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 value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on 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 owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Trading Up 1.6 %

Shares of Stryker stock opened at $396.10 on Thursday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm’s 50-day moving average price is $381.96 and its 200 day moving average price is $372.45. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $151.14 billion, a PE ratio of 51.04, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the firm earned $3.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

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.