Grimes & Company Inc. Has $2.98 Million Holdings in Stryker Co. (NYSE:SYK)

Grimes & Company Inc. boosted its holdings in Stryker Co. (NYSE:SYK) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,277 shares of the medical technology company’s stock after acquiring an additional 38 shares during the quarter. Grimes & Company Inc.’s holdings in Stryker were worth $2,980,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC raised its position in Stryker by 16.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,053 shares of the medical technology company’s stock valued at $2,179,000 after purchasing an additional 843 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Stryker by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,047,000 after acquiring an additional 92 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Stryker by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 89,407 shares of the medical technology company’s stock worth $32,191,000 after acquiring an additional 845 shares during the last quarter. apricus wealth LLC raised its position in shares of Stryker by 11.5% during the fourth quarter. apricus wealth LLC now owns 1,832 shares of the medical technology company’s stock worth $660,000 after acquiring an additional 189 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Stryker by 19.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,263 shares of the medical technology company’s stock worth $2,255,000 after acquiring an additional 1,002 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SYK shares. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. Citigroup lifted their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Up 0.1 %

Shares of NYSE:SYK opened at $394.08 on Friday. The stock has a market cap of $150.23 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The business’s 50 day moving average is $376.11 and its 200 day moving average is $360.81.

Stryker (NYSE:SYK) last announced its earnings results 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. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s 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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

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.