Nvest Financial LLC Has $833,000 Position in Stryker Co. (NYSE:SYK)

Nvest Financial LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the medical technology company’s stock after acquiring an additional 736 shares during the period. Nvest Financial LLC’s holdings in Stryker were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Capital Planning LLC increased its holdings in Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares in the last quarter. Alhambra Investment Management LLC increased its stake in shares of Stryker by 1.5% in the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after acquiring an additional 29 shares in the last quarter. Avestar Capital LLC increased its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after acquiring an additional 31 shares in the last quarter. Union Savings Bank boosted its stake in Stryker by 1.0% during the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after acquiring an additional 31 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its holdings in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after purchasing an additional 32 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SYK. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup upped their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $411.30.

Stryker Stock Performance

Shares of SYK opened at $394.92 on Wednesday. The stock has a 50 day moving average of $376.44 and a 200 day moving average of $361.98. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $310.74 and a 12 month high of $406.19. The company has a market capitalization of $150.55 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the business posted $3.46 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by company insiders.

About Stryker

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.