Stryker Co. (SYK) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 3,159,538 shares of the medical technology company’s stock after buying an additional 85,614 shares during the period. Geode Capital Management LLC’s holdings in Stryker were worth $488,110,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Investec Asset Management LTD raised its position in shares of Stryker by 1.4% during the 4th quarter. Investec Asset Management LTD now owns 53,484 shares of the medical technology company’s stock worth $8,281,000 after acquiring an additional 729 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Stryker by 15.5% during the 4th quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock worth $341,945,000 after acquiring an additional 296,550 shares in the last quarter. Aevitas Wealth Management Inc. acquired a new stake in shares of Stryker during the 4th quarter worth about $253,000. Amalgamated Bank increased its position in Stryker by 9.7% during the fourth quarter. Amalgamated Bank now owns 44,645 shares of the medical technology company’s stock worth $6,913,000 after buying an additional 3,937 shares during the period. Finally, Calamos Wealth Management LLC increased its position in Stryker by 9.5% during the fourth quarter. Calamos Wealth Management LLC now owns 45,576 shares of the medical technology company’s stock worth $7,057,000 after buying an additional 3,940 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.
Stryker Co. (NYSE SYK) opened at $160.80 on Friday. Stryker Co. has a 12 month low of $128.79 and a 12 month high of $170.00. The firm has a market capitalization of $59,676.72, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 2.29 and a debt-to-equity ratio of 0.66.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.17%. Stryker’s dividend payout ratio (DPR) is currently 70.15%.
In related news, VP William E. Berry, Jr. sold 1,306 shares of Stryker stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $164.42, for a total value of $214,732.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Graham A. Mclean sold 2,984 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $160.53, for a total value of $479,021.52. Following the completion of the sale, the insider now owns 9,100 shares in the company, valued at $1,460,823. The disclosure for this sale can be found here. Insiders sold a total of 16,690 shares of company stock worth $2,726,820 over the last quarter. Company insiders own 7.40% of the company’s stock.
SYK has been the topic of several research analyst reports. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. SunTrust Banks reaffirmed a “buy” rating and set a $161.00 price target on shares of Stryker in a research report on Friday, November 17th. Leerink Swann lifted their price target on Stryker from $177.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price target on the stock in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Stryker currently has a consensus rating of “Buy” and an average price target of $163.85.
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Stryker Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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