Pacific Point Advisors LLC Invests $1.18 Million in Stryker Corporation $SYK

Pacific Point Advisors LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,348 shares of the medical technology company’s stock, valued at approximately $1,177,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Stryker during the second quarter worth $205,000. Guggenheim Capital LLC raised its holdings in shares of Stryker by 2.5% during the second quarter. Guggenheim Capital LLC now owns 6,180 shares of the medical technology company’s stock worth $2,445,000 after acquiring an additional 152 shares during the period. Marshall Wace LLP raised its holdings in shares of Stryker by 107.9% during the second quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock worth $2,255,000 after acquiring an additional 77,831 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Stryker by 2.1% during the second quarter. Gamco Investors INC. ET AL now owns 22,175 shares of the medical technology company’s stock worth $8,773,000 after acquiring an additional 451 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. UBS Group dropped their price objective on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Needham & Company LLC raised their price objective on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Citigroup dropped their price objective on shares of Stryker from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research note on Tuesday, January 6th. Finally, BTIG Research lifted their price target on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $425.56.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is owned by corporate insiders.

Stryker Stock Down 0.2%

Shares of SYK stock opened at $331.64 on Wednesday. The firm has a market capitalization of $127.01 billion, a P/E ratio of 39.48, a PEG ratio of 1.94 and a beta of 0.92. The firm’s fifty day moving average price is $356.14 and its two-hundred day moving average price is $361.12. Stryker Corporation has a 1 year low of $319.32 and a 1 year high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s payout ratio is currently 41.90%.

About Stryker

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.