LGT Capital Partners LTD. Raises Stock Position in Stryker Co. (NYSE:SYK)

LGT Capital Partners LTD. grew its holdings in Stryker Co. (NYSE:SYK) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 434,997 shares of the medical technology company’s stock after buying an additional 85,240 shares during the period. Stryker accounts for about 3.9% of LGT Capital Partners LTD.’s portfolio, making the stock its 7th biggest holding. LGT Capital Partners LTD. owned approximately 0.11% of Stryker worth $130,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH boosted its stake in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares during the period. CoreCap Advisors LLC lifted its stake in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Stryker by 5.7% in the 4th quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after purchasing an additional 4,143 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its position in shares of Stryker by 50.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the medical technology company’s stock worth $2,879,000 after buying an additional 3,225 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Stryker during the third quarter worth about $30,365,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SYK shares. Roth Mkm upped their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Morgan Stanley raised their price objective on Stryker from $300.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $360.00 price target on shares of Stryker in a research report on Thursday, February 15th. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.52.

Stryker Price Performance

Shares of NYSE:SYK opened at $357.87 on Friday. The firm’s 50 day moving average price is $343.42 and its 200-day moving average price is $305.60. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $136.16 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 earnings per share. Equities research analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Stryker 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.