Cerro Pacific Wealth Advisors LLC Acquires New Position in Stryker Co. (NYSE:SYK)

Cerro Pacific Wealth Advisors LLC acquired a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 660 shares of the medical technology company’s stock, valued at approximately $239,000.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board increased its holdings in Stryker by 79.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock valued at $4,280,000 after acquiring an additional 5,553 shares during the last quarter. Insigneo Advisory Services LLC grew its position in shares of Stryker by 31.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 2,150 shares of the medical technology company’s stock worth $679,000 after buying an additional 520 shares during the last quarter. AXA S.A. lifted its stake in shares of Stryker by 11.0% during the second quarter. AXA S.A. now owns 91,054 shares of the medical technology company’s stock worth $30,981,000 after buying an additional 9,052 shares during the period. AQR Capital Management LLC raised its position in Stryker by 9.7% during the 2nd quarter. AQR Capital Management LLC now owns 125,333 shares of the medical technology company’s stock worth $42,485,000 after buying an additional 11,075 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Stryker by 2.2% during the second quarter. APG Asset Management N.V. now owns 223,007 shares of the medical technology company’s stock valued at $70,798,000 after acquiring an additional 4,902 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several analysts have recently issued reports on SYK shares. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Robert W. Baird raised 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. Finally, Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 0.8 %

Shares of SYK opened at $393.79 on Friday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The firm has a market capitalization of $150.12 billion, a P/E ratio of 42.21, a PEG ratio of 2.68 and a beta of 0.95. The firm’s 50-day moving average is $375.82 and its two-hundred day moving average is $360.16. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) 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.