Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,509 shares of the medical technology company’s stock after buying an additional 5,254 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Stryker were worth $9,369,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in SYK. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Stryker during the fourth quarter worth about $49,056,000. Elkfork Partners LLC acquired a new stake in shares of Stryker during the fourth quarter worth about $49,005,000. Lazard Asset Management LLC boosted its stake in shares of Stryker by 15.5% during the fourth quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock worth $341,945,000 after buying an additional 296,550 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Stryker by 19.2% during the third quarter. Janus Henderson Group PLC now owns 1,214,733 shares of the medical technology company’s stock worth $172,517,000 after buying an additional 195,479 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Stryker by 45.2% during the fourth quarter. Deutsche Bank AG now owns 616,781 shares of the medical technology company’s stock worth $95,496,000 after buying an additional 191,929 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.
Stryker stock opened at $167.51 on Monday. Stryker Co. has a 1-year low of $129.82 and a 1-year high of $170.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59. The stock has a market cap of $62,756.28, a PE ratio of 62.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.12%. Stryker’s dividend payout ratio (DPR) is presently 70.15%.
In other Stryker news, insider Graham A. Mclean sold 2,984 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total value of $479,021.52. Following the completion of the transaction, the insider now directly owns 9,100 shares of the company’s stock, valued at $1,460,823. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Yin C. Becker sold 23,221 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $165.96, for a total transaction of $3,853,757.16. Following the completion of the transaction, the vice president now directly owns 10,499 shares of the company’s stock, valued at $1,742,414.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,611 shares of company stock valued at $7,178,719. 7.40% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on SYK. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Wednesday, January 17th. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating in a research note on Friday, November 24th. ValuEngine cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price target on shares of Stryker in a report on Tuesday, January 9th. Finally, Morgan Stanley increased their price target on shares of Stryker from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Stryker currently has a consensus rating of “Buy” and a consensus target price of $164.76.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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