Intech Investment Management LLC Raises Holdings in Stryker Corporation $SYK

Intech Investment Management LLC grew its position in Stryker Corporation (NYSE:SYK) by 47.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,784 shares of the medical technology company’s stock after purchasing an additional 2,807 shares during the period. Intech Investment Management LLC’s holdings in Stryker were worth $3,247,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Stryker in the 2nd quarter worth approximately $1,882,173,000. Alliancebernstein L.P. raised its stake in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Stryker in the 2nd quarter worth about $191,047,000. Finally, Vanguard Group Inc. boosted its stake in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after acquiring an additional 440,607 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Finally, Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a report on Friday, December 19th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.47.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.20% of the company’s stock.

Stryker Trading Up 0.0%

Shares of SYK opened at $387.53 on Tuesday. The business’s 50-day moving average price is $363.79 and its 200 day moving average price is $369.15. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $148.30 billion, a P/E ratio of 46.13, a P/E/G ratio of 2.26 and a beta of 0.85. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.01 earnings per share. Analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.