Rempart Asset Management Inc. Grows Stake in Stryker Co. (NYSE:SYK)

Rempart Asset Management Inc. raised its position in Stryker Co. (NYSE:SYK) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,496 shares of the medical technology company’s stock after acquiring an additional 2,351 shares during the period. Stryker makes up about 3.5% of Rempart Asset Management Inc.’s holdings, making the stock its 19th largest holding. Rempart Asset Management Inc.’s holdings in Stryker were worth $17,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR grew its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the third quarter worth $36,000. HBW Advisory Services LLC bought a new stake in Stryker during the 3rd quarter valued at $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

SYK traded up $3.00 during midday trading on Wednesday, hitting $358.18. 168,195 shares of the company traded hands, compared to its average volume of 991,640. The company’s 50-day moving average is $375.25 and its 200 day moving average is $357.42. Stryker Co. has a 52 week low of $298.52 and a 52 week high of $398.20. The firm has a market capitalization of $136.54 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.94%. Stryker’s payout ratio is presently 36.01%.

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.