Charles Schwab Investment Management Inc. Boosts Stake in Stryker Co. (NYSE:SYK)

Charles Schwab Investment Management Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,771,049 shares of the medical technology company’s stock after buying an additional 30,593 shares during the period. Charles Schwab Investment Management Inc. owned 0.47% of Stryker worth $530,358,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP purchased a new position in shares of Stryker during the fourth quarter valued at approximately $30,000. HBC Financial Services PLLC acquired a new stake in Stryker during the fourth quarter worth approximately $37,000. Bourgeon Capital Management LLC purchased a new stake in Stryker in the 4th quarter worth approximately $37,000. Finally, Operose Advisors LLC raised its holdings in Stryker by 308.6% in the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 108 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Evercore ISI increased their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a report on Wednesday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Stock Up 2.0 %

Shares of SYK traded up $6.64 during trading hours on Tuesday, reaching $332.14. The company’s stock had a trading volume of 1,331,236 shares, compared to its average volume of 1,332,736. The firm has a market cap of $126.53 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 2.56 and a beta of 0.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $346.05 and a two-hundred day moving average of $318.84. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. As a group, research analysts predict that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by insiders.

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.