Pallas Capital Advisors LLC Has $7.48 Million Position in Stryker Co. (NYSE:SYK)

Pallas Capital Advisors LLC trimmed its position in shares of Stryker Co. (NYSE:SYK) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,769 shares of the medical technology company’s stock after selling 220 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Stryker were worth $7,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC acquired a new position in Stryker during the third quarter worth about $762,798,000. International Assets Investment Management LLC grew its position in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP bought a new position in shares of Stryker during the third quarter worth about $143,392,000. State Street Corp lifted its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Stryker by 49.8% in the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after acquiring an additional 228,139 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on 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 directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 1.3 %

SYK stock traded down $4.70 during trading on Monday, reaching $360.96. The company had a trading volume of 1,400,602 shares, compared to its average volume of 1,302,026. The business has a 50 day moving average of $375.40 and a 200 day moving average of $357.95. The company has a market cap of $137.60 billion, a P/E ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.