Transcend Capital Advisors LLC Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Transcend Capital Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,174 shares of the medical technology company’s stock after purchasing an additional 400 shares during the period. Transcend Capital Advisors LLC’s holdings in Stryker were worth $2,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Stryker by 0.5% during the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares during the last quarter. FMR LLC raised its holdings in shares of Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the last quarter. Morgan Stanley grew its position in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares during the period. Northern Trust Corp grew its position in Stryker by 3.9% during the third quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after buying an additional 131,590 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Stryker by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock valued at $475,614,000 after buying an additional 40,736 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYK shares. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and boosted their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their target price on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Roth Mkm upped their price target on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.67.

Insider Activity at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK traded down $1.54 during midday trading on Friday, reaching $335.61. 1,063,790 shares of the company were exchanged, compared to its average volume of 1,108,426. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $348.88 and its two-hundred day moving average is $315.16. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The stock has a market cap of $127.69 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 earnings per share. As a group, analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

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.