Legacy Financial Advisors Inc. Buys Shares of 758 Stryker Co. (NYSE:SYK)

Legacy Financial Advisors Inc. purchased a new position in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 758 shares of the medical technology company’s stock, valued at approximately $227,000.

Several other hedge funds also recently modified their holdings of SYK. Magellan Asset Management Ltd raised its position in Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after purchasing an additional 679,450 shares during the last quarter. Barclays PLC boosted its position in Stryker by 103.5% in the 3rd 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 last quarter. Morgan Stanley increased its stake 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 valued at $1,452,493,000 after buying an additional 223,728 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after acquiring an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after acquiring an additional 194,715 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Citigroup boosted their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their price objective for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Up 0.6 %

NYSE SYK opened at $328.45 on Monday. The company has a market cap of $125.12 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.56 and a beta of 0.91. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $346.99 and a 200-day moving average of $317.97.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS. On average, equities research analysts expect that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is presently 36.53%.

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.