Lyell Wealth Management LP Grows Position in Stryker Co. (NYSE:SYK)

Lyell Wealth Management LP grew its stake in Stryker Co. (NYSE:SYK) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 31,963 shares of the medical technology company’s stock after buying an additional 750 shares during the quarter. Lyell Wealth Management LP’s holdings in Stryker were worth $9,572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after buying an additional 143,631 shares during the period. FMR LLC raised its stake in shares of Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after buying an additional 144,208 shares during the period. Morgan Stanley raised its stake in shares of Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. Northern Trust Corp raised its stake in shares of Stryker by 3.9% during the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after buying an additional 131,590 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Stryker by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock worth $475,614,000 after buying an additional 40,736 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.6 %

Stryker stock traded up $1.94 during midday trading on Wednesday, reaching $336.85. 1,478,179 shares of the stock traded hands, compared to its average volume of 1,282,265. The company has a 50-day simple moving average of $349.39 and a two-hundred day simple moving average of $314.24. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The firm has a market cap of $128.16 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 2.64 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 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 during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period last year, the business posted $3.00 EPS. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated 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 owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated 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 owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were 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 approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last three months. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on SYK. Wells Fargo & Company increased their price objective on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Roth Mkm increased their price objective on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada raised their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, TD Cowen raised their target price on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.67.

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.