Hager Investment Management Services LLC Buys New Stake in Stryker Co. (NYSE:SYK)

Hager Investment Management Services LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,554 shares of the medical technology company’s stock, valued at approximately $3,800,000. Stryker accounts for about 2.4% of Hager Investment Management Services LLC’s investment portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC increased its stake in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new stake in shares of Stryker during the third quarter worth about $143,392,000. State Street Corp increased its stake in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.4 %

Shares of NYSE:SYK opened at $392.55 on Wednesday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company’s 50 day moving average is $376.81 and its two-hundred day moving average is $363.64. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $149.65 billion, a PE ratio of 50.59, a P/E/G ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm posted $3.46 EPS. Equities analysts predict that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date was Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYK shares. Barclays boosted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price objective on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Company 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.