Pallas Capital Advisors LLC Has $7.48 Million Stock Position in Stryker Co. (NYSE:SYK)

Pallas Capital Advisors LLC trimmed its position in Stryker Co. (NYSE:SYK) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,769 shares of the medical technology company’s stock after selling 220 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Stryker were worth $7,478,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker in the 3rd quarter worth $36,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new position in Stryker during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SYK. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Citigroup increased their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price target on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Price Performance

SYK stock traded down $4.70 on Monday, hitting $360.96. 1,400,602 shares of the company’s stock traded hands, compared to its average volume of 1,302,026. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $137.60 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The stock has a fifty day moving average of $375.40 and a 200-day moving average of $357.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

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.