Intech Investment Management LLC Raises Stake in Stryker Co. (NYSE:SYK)

Intech Investment Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 55.9% in the fourth quarter, HoldingsChannel reports. The fund owned 15,275 shares of the medical technology company’s stock after acquiring an additional 5,474 shares during the period. Intech Investment Management LLC’s holdings in Stryker were worth $4,574,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SYK. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Rogco LP purchased a new position in Stryker during the 4th quarter valued at about $30,000. HBC Financial Services PLLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. Bourgeon Capital Management LLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. Finally, Operose Advisors LLC lifted its position in Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 108 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Roth Mkm lifted their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their target price on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $370.50.

Stryker Price Performance

Shares of SYK traded up $5.42 during mid-day trading on Monday, reaching $335.54. The stock had a trading volume of 1,230,500 shares, compared to its average volume of 1,331,312. The firm has a market cap of $127.82 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 2.64 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The business has a fifty day moving average of $339.85 and a 200 day moving average of $324.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid 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 of this dividend is Friday, June 28th. Stryker’s payout ratio is 36.53%.

About Stryker

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.