21,402 Shares in Stryker Corporation $SYK Purchased by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,402 shares of the medical technology company’s stock, valued at approximately $7,912,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clayton Financial Group LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $28,000. Kilter Group LLC purchased a new stake in shares of Stryker during the second quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new stake in shares of Stryker during the second quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Stryker during the third quarter worth $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SYK shares. UBS Group boosted their price objective on shares of Stryker from $386.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a report on Friday, January 9th. Finally, BTIG Research raised their price objective on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $428.61.

Stryker Trading Down 1.9%

NYSE:SYK opened at $358.83 on Wednesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a fifty day moving average price of $365.82 and a two-hundred day moving average price of $368.46. The stock has a market capitalization of $137.32 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 2.14 and a beta of 0.85.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the firm earned $4.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.