MBL Wealth LLC Raises Stake in Stryker Co. (NYSE:SYK)

MBL Wealth LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 850 shares of the medical technology company’s stock after acquiring an additional 37 shares during the period. MBL Wealth LLC’s holdings in Stryker were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Stryker during the 4th quarter worth $776,333,000. Moneta Group Investment Advisors LLC raised its stake in Stryker by 109,726.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock valued at $767,686,000 after purchasing an additional 3,137,089 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after purchasing an additional 2,075,371 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Stryker in the 4th quarter valued at about $312,539,000. Finally, Morgan Stanley grew its holdings in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after buying an additional 1,066,751 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

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

Wall Street Analyst Weigh In

Several research firms have commented on SYK. Morgan Stanley lifted their price target on Stryker from $300.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, December 4th. Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a report on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and lifted their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $331.52.

Stryker Stock Down 0.2 %

NYSE SYK traded down $0.84 on Friday, reaching $357.87. The company had a trading volume of 1,074,753 shares, compared to its average volume of 1,130,776. The firm has a market capitalization of $136.16 billion, a PE ratio of 43.38, a P/E/G ratio of 2.92 and a beta of 0.89. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The firm has a 50-day moving average of $343.42 and a 200-day moving average of $305.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company posted $3.00 EPS. Stryker’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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.