Pacer Advisors Inc. Grows Stake in Stryker Co. (NYSE:SYK)

Pacer Advisors Inc. boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,925 shares of the medical technology company’s stock after buying an additional 5,704 shares during the period. Pacer Advisors Inc.’s holdings in Stryker were worth $11,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Zhang Financial LLC grew its holdings in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker in the 4th quarter worth $587,000. PFW Advisors LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $1,350,000. Traynor Capital Management Inc. bought a new stake in shares of Stryker during the 4th quarter worth $324,000. Finally, Dakota Wealth Management grew its position in Stryker by 7.6% in the fourth quarter. Dakota Wealth Management now owns 27,065 shares of the medical technology company’s stock worth $9,749,000 after acquiring an additional 1,913 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK opened at $394.92 on Wednesday. The stock’s 50 day moving average price is $376.32 and its 200-day moving average price is $361.59. Stryker Co. has a 52-week low of $310.74 and a 52-week high of $406.19. The stock has a market capitalization of $150.55 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period last year, the firm posted $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Wells Fargo & Company increased their price target on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research boosted their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

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.