Parkside Financial Bank & Trust Acquires 102 Shares of Stryker Co. (NYSE:SYK)

Parkside Financial Bank & Trust raised its position in Stryker Co. (NYSE:SYK) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 827 shares of the medical technology company’s stock after purchasing an additional 102 shares during the period. Parkside Financial Bank & Trust’s holdings in Stryker were worth $248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Magellan Asset Management Ltd grew its holdings in Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after acquiring an additional 679,450 shares during the last quarter. Barclays PLC lifted its position in Stryker by 103.5% during the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after buying an additional 551,798 shares during the period. Morgan Stanley raised its position in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Stryker by 14.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.9 %

SYK stock traded up $3.12 during midday trading on Wednesday, hitting $338.03. 653,075 shares of the company’s stock were exchanged, compared to its average volume of 1,271,423. The stock’s fifty day moving average price is $349.64 and its 200-day moving average price is $314.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market cap of $128.61 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.64 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. Research analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s payout ratio is presently 38.79%.

Analysts Set New Price Targets

Several research analysts have weighed in on SYK shares. Citigroup upped their price target on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen increased their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Evercore ISI upped their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $340.67.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 over the last 90 days. Company 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.