Twinbeech Capital LP Invests $28.06 Million in Stryker Co. (NYSE:SYK)

Twinbeech Capital LP bought a new position in shares of Stryker Co. (NYSE:SYK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 77,924 shares of the medical technology company’s stock, valued at approximately $28,057,000.

Several other institutional investors have also recently made changes to their positions in SYK. Vanguard Group Inc. grew its stake in Stryker by 0.8% in 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 purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the last quarter. FMR LLC grew its stake in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after acquiring an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker during the fourth quarter worth about $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on 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 directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director now 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 disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.5%

SYK opened at $394.24 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50 day simple moving average of $366.62 and a 200-day simple moving average of $375.61. The stock has a market capitalization of $150.48 billion, a P/E ratio of 50.80, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

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 the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is 45.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. Wells Fargo & Company boosted their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, Citigroup restated a “buy” rating and set a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $427.05.

Stryker Company 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.