Dana Investment Advisors Inc. Increases Stock Position in Stryker Corporation $SYK

Dana Investment Advisors Inc. increased its holdings in Stryker Corporation (NYSE:SYK) by 72.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,839 shares of the medical technology company’s stock after buying an additional 11,289 shares during the period. Dana Investment Advisors Inc.’s holdings in Stryker were worth $9,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Clayton Financial Group LLC bought a new position in shares of Stryker in the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker during the 2nd quarter worth about $28,000. Kilter Group LLC bought a new position in Stryker in the 2nd quarter worth about $29,000. Howard Hughes Medical Institute purchased a new position in Stryker during the 2nd quarter valued at about $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker during the third quarter valued at about $34,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SYK shares. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Needham & Company LLC boosted their price target on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company upped their price target on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Robert W. Baird set a $437.00 price objective on Stryker in a research note on Friday, January 30th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Stryker Stock Performance

Stryker stock opened at $384.82 on Tuesday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a market cap of $147.27 billion, a P/E ratio of 45.81, a price-to-earnings-growth ratio of 2.22 and a beta of 0.87. The firm’s fifty day moving average price is $360.63 and its 200-day moving average price is $368.88.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the business earned $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio is 41.90%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.