Kendall Capital Management purchased a new stake in Stryker Co. (NYSE:SYK) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,475 shares of the medical technology company’s stock, valued at approximately $228,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Truewealth LLC acquired a new position in Stryker in the 4th quarter valued at $110,000. Sawyer & Company Inc acquired a new stake in shares of Stryker during the 4th quarter worth $125,000. Sit Investment Associates Inc. increased its holdings in shares of Stryker by 114.3% during the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after buying an additional 440 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth $133,000. Finally, Oak Point Wealth Management acquired a new stake in shares of Stryker during the 4th quarter worth $145,000. Institutional investors own 75.71% of the company’s stock.
Shares of Stryker Co. (NYSE SYK) opened at $167.89 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $129.59 and a 12-month high of $170.00. The firm has a market cap of $62,344.18, a price-to-earnings ratio of 62.65, a P/E/G ratio of 2.39 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.12%. Stryker’s dividend payout ratio (DPR) is 70.15%.
SYK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Stryker from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $161.00 to $173.00 in a report on Thursday, November 16th. BMO Capital Markets upgraded Stryker to a “market perform” rating and set a $163.00 price objective for the company in a report on Tuesday, December 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $163.00 price objective on shares of Stryker in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $163.85.
In other Stryker news, VP William E. Berry, Jr. sold 1,306 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 2,984 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total transaction of $479,021.52. Following the completion of the transaction, the insider now directly owns 9,100 shares of the company’s stock, valued at $1,460,823. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,611 shares of company stock valued at $7,178,719. 7.40% of the stock is owned by corporate insiders.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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