Russell Investments Group Ltd. Acquires 13,452 Shares of Stryker Corporation $SYK

Russell Investments Group Ltd. boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,556 shares of the medical technology company’s stock after acquiring an additional 13,452 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Stryker worth $77,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Davis R M Inc. raised its position in shares of Stryker by 1.8% during the third quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock worth $51,285,000 after acquiring an additional 2,512 shares during the last quarter. Terra Alpha Investments LLC acquired a new stake in Stryker in the third quarter worth about $1,216,000. Diversified Trust Co increased its position in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after purchasing an additional 3,899 shares during the period. SVB Wealth LLC bought a new stake in Stryker during the 2nd quarter worth about $4,785,000. Finally, AXQ Capital LP acquired a new position in Stryker during the 2nd quarter valued at about $567,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE:SYK opened at $358.83 on Wednesday. The firm’s 50 day simple moving average is $365.82 and its 200 day simple moving average is $368.46. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a market capitalization of $137.32 billion, a price-to-earnings ratio of 42.72, a P/E/G ratio of 2.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s payout ratio is 41.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday, January 6th. Sanford C. Bernstein lifted their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Finally, Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $428.61.

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.