Geode Capital Management LLC Buys 168,436 Shares of Stryker Co. (NYSE:SYK)

Geode Capital Management LLC raised its position in Stryker Co. (NYSE:SYK) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,073,562 shares of the medical technology company’s stock after buying an additional 168,436 shares during the period. Geode Capital Management LLC owned about 1.86% of Stryker worth $2,539,033,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tradewinds LLC. acquired a new position in Stryker in the fourth quarter valued at about $241,000. National Bank of Canada FI boosted its stake in Stryker by 69.6% during the 4th quarter. National Bank of Canada FI now owns 431,259 shares of the medical technology company’s stock worth $155,277,000 after acquiring an additional 177,033 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in Stryker by 28.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 4,356 shares of the medical technology company’s stock valued at $1,701,000 after purchasing an additional 975 shares during the period. Rodgers Brothers Inc. increased its stake in Stryker by 14.1% in the fourth quarter. Rodgers Brothers Inc. now owns 1,217 shares of the medical technology company’s stock valued at $438,000 after purchasing an additional 150 shares in the last quarter. Finally, Cannell & Spears LLC raised its holdings in Stryker by 1.0% in the fourth quarter. Cannell & Spears LLC now owns 4,697 shares of the medical technology company’s stock worth $1,691,000 after purchasing an additional 45 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now owns 3,642,075 shares in the company, 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 Stock Performance

NYSE SYK opened at $372.73 on Tuesday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market cap of $142.27 billion, a PE ratio of 48.03, a P/E/G ratio of 2.93 and a beta of 0.95. The firm has a 50-day moving average of $383.86 and a 200-day moving average of $374.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SYK shares. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Finally, Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. 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, Stryker has an average rating of “Moderate Buy” and a consensus target price of $421.90.

About Stryker

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.