Suncoast Equity Management Purchases 1,696 Shares of Stryker Co. (NYSE:SYK)

Suncoast Equity Management increased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 121,950 shares of the medical technology company’s stock after purchasing an additional 1,696 shares during the period. Stryker accounts for approximately 4.9% of Suncoast Equity Management’s holdings, making the stock its 9th largest position. Suncoast Equity Management’s holdings in Stryker were worth $43,908,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYK. Chicago Capital LLC increased its holdings in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after acquiring an additional 5,841 shares during the last quarter. Zhang Financial LLC boosted its position in 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 during the period. Appleton Partners Inc. MA increased its holdings in shares of Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker in the fourth quarter valued at about $587,000. Finally, Berkshire Bank lifted its stake in shares of Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after buying an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday. Royal Bank of Canada lifted their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the 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 sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.5 %

SYK stock opened at $386.47 on Friday. The stock has a market capitalization of $147.47 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $377.92 and a 200-day moving average price of $368.21. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 last year, the company earned $3.46 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio is presently 43.30%.

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.