Secure Asset Management LLC Buys 638 Shares of Stryker Co. (NYSE:SYK)

Secure Asset Management LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 50.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,913 shares of the medical technology company’s stock after acquiring an additional 638 shares during the period. Secure Asset Management LLC’s holdings in Stryker were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased 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 purchasing an additional 316,404 shares in the last quarter. FMR LLC boosted its holdings in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC increased its stake in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares during the period. Finally, Parnassus Investments LLC purchased a new position in shares of Stryker in the third quarter valued at about $762,798,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SYK shares. Wells Fargo & Company lifted their target price on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.1 %

Shares of SYK opened at $394.08 on Friday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $376.03 and its 200-day simple moving average is $360.39. The company has a market cap of $150.23 billion, a P/E ratio of 42.24, a P/E/G ratio of 2.68 and a beta of 0.95.

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

Stryker Increases Dividend

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

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.