Pinnacle West Asset Management Inc. Raises Position in Stryker Co. (NYSE:SYK)

Pinnacle West Asset Management Inc. boosted its position in Stryker Co. (NYSE:SYK) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 765 shares of the medical technology company’s stock after purchasing an additional 50 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Stryker were worth $275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chicago Capital LLC lifted its position in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares during the last quarter. Zhang Financial LLC lifted its holdings in Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA boosted its position in Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after purchasing an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd purchased a new position in shares of Stryker in the fourth quarter worth about $587,000. Finally, Berkshire Bank raised its position in shares of Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after purchasing an additional 1,030 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYK shares. BTIG Research lifted their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of NYSE:SYK opened at $390.57 on Wednesday. The firm has a fifty day moving average of $378.78 and a 200 day moving average of $370.22. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $149.03 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 earnings per share. As a group, research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Stryker Profile

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.