FourThought Financial Partners LLC Invests $398,000 in Stryker Co. (NYSE:SYK)

FourThought Financial Partners LLC acquired a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,104 shares of the medical technology company’s stock, valued at approximately $398,000.

A number of other institutional investors have also made changes to their positions in SYK. State Street Corp boosted 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 during the period. FMR LLC lifted its position in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 2.5% during 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 period. Parnassus Investments LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC increased its stake in shares of Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Up 0.7 %

SYK stock opened at $390.57 on Wednesday. The stock has a market capitalization of $149.03 billion, a P/E ratio of 50.33, 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 $378.78 and a 200-day moving average price of $370.22. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $3.46 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Barclays upped their price objective on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada upped their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lifted their price objective on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $422.15.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % 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 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.