Primecap Management Co. CA Increases Holdings in Stryker Corporation $SYK

Primecap Management Co. CA raised its position in Stryker Corporation (NYSE:SYK) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 508,502 shares of the medical technology company’s stock after purchasing an additional 3,740 shares during the period. Primecap Management Co. CA’s holdings in Stryker were worth $187,978,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clayton Financial Group LLC acquired a new stake in Stryker in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC acquired a new position in Stryker in the second quarter valued at approximately $28,000. Kilter Group LLC acquired a new position in Stryker during the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute bought a new position in shares of Stryker during the second quarter worth about $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Stryker in the 3rd quarter worth about $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYK. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. William Blair started coverage on shares of Stryker in a research report on Friday, February 20th. They issued an “outperform” rating on the stock. Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a report on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Up 0.5%

NYSE SYK opened at $386.04 on Friday. The stock’s 50 day simple moving average is $362.53 and its 200 day simple moving average is $369.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The firm has a market cap of $147.73 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.01 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.