Rice Partnership LLC Boosts Holdings in Stryker Corporation $SYK

Rice Partnership LLC raised its holdings in Stryker Corporation (NYSE:SYK) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,299 shares of the medical technology company’s stock after purchasing an additional 1,955 shares during the period. Rice Partnership LLC’s holdings in Stryker were worth $5,286,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYK. Terra Alpha Investments LLC purchased a new stake in Stryker in the third quarter worth about $1,216,000. Diversified Trust Co raised its holdings in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after buying an additional 3,899 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Stryker during the second quarter valued at $4,785,000. AXQ Capital LP bought a new stake in shares of Stryker in the second quarter worth approximately $567,000. Finally, National Pension Service lifted its holdings in shares of Stryker by 2.4% during the 3rd quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock valued at $252,805,000 after buying an additional 16,254 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYK shares. Robert W. Baird set a $437.00 target price on shares of Stryker in a research note on Friday, January 30th. Barclays restated an “overweight” rating and set a $469.00 price objective on shares of Stryker in a report on Monday, February 2nd. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Evercore set a $390.00 target price on shares of Stryker in a research report on Monday, January 5th. Finally, Needham & Company LLC upped their target price on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Price Performance

Shares of Stryker stock opened at $384.82 on Tuesday. The business has a 50-day moving average price of $360.63 and a 200 day moving average price of $368.88. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The firm has a market cap of $147.27 billion, a PE ratio of 45.81, a P/E/G ratio of 2.22 and a beta of 0.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its earnings results 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 company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 EPS. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

About Stryker

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.