Trust Point Inc. Has $679,000 Position in Stryker Co. (NYSE:SYK)

Trust Point Inc. increased its position in shares of Stryker Co. (NYSE:SYK) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,885 shares of the medical technology company’s stock after purchasing an additional 134 shares during the period. Trust Point Inc.’s holdings in Stryker were worth $679,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC grew its position in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after purchasing an additional 28,421 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SYK. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group increased their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $392.55 on Wednesday. The firm has a market cap of $149.65 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business’s 50 day moving average price is $376.81 and its two-hundred day moving average price is $363.64.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the business earned $3.46 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 13.5 EPS for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is presently 43.30%.

Stryker 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.