Abbrea Capital LLC Boosts Position in Stryker Co. (NYSE:SYK)

Abbrea Capital LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 0.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,007 shares of the medical technology company’s stock after purchasing an additional 60 shares during the quarter. Abbrea Capital LLC’s holdings in Stryker were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SYK. Bremer Bank National Association raised its stake in shares of Stryker by 4.0% during the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares in the last quarter. Simon Quick Advisors LLC raised its stake in shares of Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp raised its stake in shares of Stryker by 3.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 34 shares in the last quarter. MBL Wealth LLC raised its stake in shares of Stryker by 4.6% during the fourth quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after purchasing an additional 37 shares in the last quarter. Finally, PDS Planning Inc raised its stake in shares of Stryker by 3.0% during the third quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock valued at $360,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.5 %

Shares of SYK traded down $1.54 during trading hours on Friday, reaching $335.61. The company’s stock had a trading volume of 1,045,260 shares, compared to its average volume of 1,283,912. The firm has a market cap of $127.69 billion, a price-to-earnings ratio of 40.96, a P/E/G ratio of 2.71 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $349.16 and a two-hundred day moving average of $314.40.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. As a group, research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SYK shares. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Roth Mkm boosted their price target on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price target on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock worth $72,845,768. Insiders own 5.90% of the company’s stock.

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.