ING Groep NV increased its stake in shares of Stryker Corporation (NYSE:SYK) by 31.3% during the fourth quarter, HoldingsChannel reports. The firm owned 6,503 shares of the medical technology company’s stock after buying an additional 1,550 shares during the period. ING Groep NV’s holdings in Stryker were worth $1,007,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Reynders McVeigh Capital Management LLC lifted its holdings in Stryker by 26.0% during the 4th quarter. Reynders McVeigh Capital Management LLC now owns 103,610 shares of the medical technology company’s stock worth $16,043,000 after purchasing an additional 21,374 shares in the last quarter. Benedict Financial Advisors Inc. lifted its holdings in Stryker by 33.7% during the 4th quarter. Benedict Financial Advisors Inc. now owns 3,071 shares of the medical technology company’s stock worth $476,000 after purchasing an additional 774 shares in the last quarter. Loeb Partners Corp purchased a new stake in Stryker during the 4th quarter worth about $496,000. Fishman Jay A Ltd. MI lifted its holdings in Stryker by 19.1% during the 4th quarter. Fishman Jay A Ltd. MI now owns 58,460 shares of the medical technology company’s stock worth $9,052,000 after purchasing an additional 9,385 shares in the last quarter. Finally, Clarus Wealth Advisors purchased a new stake in Stryker during the 4th quarter worth about $240,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corporation (SYK) opened at $154.56 on Wednesday. The firm has a market capitalization of $57,840.00, a PE ratio of 57.67, a P/E/G ratio of 2.17 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 1-year low of $123.84 and a 1-year high of $170.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.22%. Stryker’s dividend payout ratio is 70.15%.
In related news, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $163.76, for a total value of $818,800.00. Following the transaction, the insider now directly owns 94,253 shares in the company, valued at $15,434,871.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,840 shares of company stock worth $2,749,989. 7.40% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on SYK. Oppenheimer reissued a “hold” rating and set a $165.00 price objective on shares of Stryker in a report on Thursday, February 1st. Citigroup reissued a “market perform” rating and set a $165.00 price objective (up previously from $156.00) on shares of Stryker in a report on Thursday, February 1st. They noted that the move was a valuation call. Guggenheim reaffirmed a “buy” rating on shares of Stryker in a report on Wednesday, January 31st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $170.00 price target on shares of Stryker in a report on Wednesday, January 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $163.00 price target on shares of Stryker in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $162.50.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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