Procyon Advisors LLC Purchases 324 Shares of Stryker Co. (NYSE:SYK)

Procyon Advisors LLC boosted its position in Stryker Co. (NYSE:SYK) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,523 shares of the medical technology company’s stock after acquiring an additional 324 shares during the period. Procyon Advisors LLC’s holdings in Stryker were worth $755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Columbia Trust Co 01012016 boosted its holdings in Stryker by 14.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 4,916 shares of the medical technology company’s stock worth $1,472,000 after acquiring an additional 613 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Stryker by 5.1% in the fourth quarter. Tectonic Advisors LLC now owns 2,262 shares of the medical technology company’s stock valued at $677,000 after purchasing an additional 109 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $200,000. Red Door Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $204,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Stryker by 1.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock valued at $2,641,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.3 %

Shares of NYSE SYK traded down $1.09 during midday trading on Thursday, reaching $357.62. The company had a trading volume of 92,176 shares, compared to its average volume of 1,307,937. Stryker Co. has a one year low of $249.98 and a one 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 firm’s fifty day moving average price is $342.51 and its 200-day moving average price is $305.23. The stock has a market cap of $135.87 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (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 for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the business earned $3.00 EPS. Stryker’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and lifted their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Citigroup raised their target price on Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Roth Mkm raised their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $331.52.

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.