Reliant Investment Management LLC Has $5.68 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Reliant Investment Management LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,767 shares of the medical technology company’s stock after purchasing an additional 567 shares during the period. Stryker accounts for 2.5% of Reliant Investment Management LLC’s portfolio, making the stock its 17th largest holding. Reliant Investment Management LLC’s holdings in Stryker were worth $5,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Stryker in the fourth quarter worth $587,000. Zhang Financial LLC grew its stake in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares during the last quarter. PFW Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter worth $1,350,000. Parnassus Investments LLC acquired a new stake in shares of Stryker in the third quarter worth $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in shares of Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Finally, Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $383.91 on Tuesday. The stock has a 50-day simple moving average of $375.51 and a 200 day simple moving average of $359.17. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The stock has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

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.