Patton Albertson Miller Group LLC Grows Position in Stryker Co. (NYSE:SYK)

Patton Albertson Miller Group LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,894 shares of the medical technology company’s stock after acquiring an additional 317 shares during the period. Patton Albertson Miller Group LLC’s holdings in Stryker were worth $7,523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. FMR LLC grew its holdings in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC increased its stake in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $394.08 on Friday. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company has a market capitalization of $150.23 billion, a PE ratio of 42.24, a P/E/G ratio of 2.68 and a beta of 0.95. The company has a 50 day moving average price of $376.11 and a 200-day moving average price of $360.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during 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%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is 36.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays boosted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Citigroup boosted their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company 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.