Terra Nova Asset Management LLC Has $3 Million Stake in Stryker Co. (NYSE:SYK)

Terra Nova Asset Management LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,344 shares of the medical technology company’s stock after purchasing an additional 32 shares during the period. Stryker makes up about 2.3% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Terra Nova Asset Management LLC’s holdings in Stryker were worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR lifted its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the third quarter worth approximately $36,000. Hara Capital LLC acquired a new position in shares of Stryker during the third quarter worth approximately $42,000. Finally, HBW Advisory Services LLC acquired a new position in shares of Stryker during the third quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BTIG Research boosted their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Up 0.6 %

Shares of SYK stock opened at $383.91 on Monday. The firm has a fifty day moving average of $375.51 and a 200-day moving average of $358.98. 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 company has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is presently 36.01%.

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.