Lake Street Advisors Group LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Lake Street Advisors Group LLC bought a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,966 shares of the medical technology company’s stock, valued at approximately $590,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares during the period. FMR LLC boosted its position in Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the period. Morgan Stanley boosted its position in Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares during the period. Franklin Resources Inc. boosted its position in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after purchasing an additional 29,209 shares during the period. Finally, Norges Bank acquired a new position in Stryker during the 4th quarter valued at approximately $1,260,562,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SYK shares. Stifel Nicolaus boosted their price objective on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays increased their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI boosted their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup increased their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company boosted their target price on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $370.58.

Stryker Stock Performance

Stryker stock traded up $3.61 during trading hours on Wednesday, hitting $345.61. The stock had a trading volume of 394,155 shares, compared to its average volume of 1,343,476. The company has a 50-day moving average of $337.98 and a two-hundred day moving average of $327.38. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a market cap of $131.66 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 2.67 and a beta of 0.92. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company posted $2.14 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.93%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.

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.