Cottage Street Advisors LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Cottage Street Advisors LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,188 shares of the medical technology company’s stock after purchasing an additional 100 shares during the quarter. Stryker comprises approximately 2.1% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Cottage Street Advisors LLC’s holdings in Stryker were worth $4,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after buying an additional 252,188 shares during the period. State Street Corp increased its holdings 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 valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC lifted its stake in shares of Stryker by 3.0% during 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 last quarter. Geode Capital Management LLC boosted its position in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after purchasing an additional 48,819 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $373.00 on Wednesday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a 50 day moving average of $384.76 and a two-hundred day moving average of $374.34. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $142.33 billion, a PE ratio of 48.07, a P/E/G ratio of 2.93 and a beta of 0.95.

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

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SYK shares. JPMorgan Chase & Co. increased their price target 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. Citigroup reiterated a “buy” rating and set a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, Stifel Nicolaus increased their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $421.90.

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.