SVB Wealth LLC Invests $11.32 Million in Stryker Co. (NYSE:SYK)

SVB Wealth LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 31,442 shares of the medical technology company’s stock, valued at approximately $11,321,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dunhill Financial LLC increased its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $30,000. BankPlus Trust Department acquired a new position in shares of Stryker during the fourth quarter valued at approximately $33,000. Darwin Wealth Management LLC bought a new stake in Stryker during the third quarter worth approximately $36,000. Finally, Activest Wealth Management acquired a new stake in Stryker in the fourth quarter worth approximately $36,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.6 %

Shares of Stryker stock opened at $386.55 on Friday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $147.50 billion, a P/E ratio of 49.81, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $380.50 and a 200 day moving average price of $370.92.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the business earned $3.46 earnings per share. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. Royal Bank of Canada lifted their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus boosted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays raised their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $422.15.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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.