Wealthsource Partners LLC Purchases Shares of 1,852 Stryker Co. (NYSE:SYK)

Wealthsource Partners LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,852 shares of the medical technology company’s stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Ontario Teachers Pension Plan Board lifted its holdings in Stryker by 87,902.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after purchasing an additional 2,075,371 shares in the last quarter. Clearbridge Investments LLC raised its stake in Stryker by 664.0% during the second quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company’s stock worth $437,497,000 after purchasing an additional 1,911,376 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Stryker during the third quarter worth about $241,841,000. CCLA Investment Management purchased a new position in Stryker during the third quarter worth about $93,811,000. Finally, Vanguard Group Inc. raised its stake in Stryker by 1.4% during the third quarter. Vanguard Group Inc. now owns 29,795,845 shares of the medical technology company’s stock worth $6,034,850,000 after purchasing an additional 422,828 shares during the period. Institutional investors and hedge funds own 77.10% of the company’s stock.

Stryker Stock Up 3.4 %

Shares of NYSE:SYK opened at $275.69 on Wednesday. The company has a market capitalization of $104.44 billion, a PE ratio of 44.68, a P/E/G ratio of 2.72 and a beta of 0.93. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $284.00. The firm has a 50 day simple moving average of $262.50 and a 200-day simple moving average of $237.32.

Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.16. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.97 billion. Stryker had a net margin of 12.78% and a return on equity of 22.39%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. On average, equities analysts predict that Stryker Co. will post 10.02 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, March 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.09%. Stryker’s dividend payout ratio is presently 48.62%.

Analyst Ratings Changes

A number of brokerages have commented on SYK. Robert W. Baird lifted their target price on shares of Stryker from $240.00 to $287.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. BTIG Research lifted their target price on shares of Stryker from $268.00 to $281.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Canaccord Genuity Group lifted their price target on shares of Stryker from $220.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, February 1st. KeyCorp started coverage on shares of Stryker in a research report on Wednesday, January 25th. They set a “sector weight” rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $281.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $272.00.

Insider Transactions at Stryker

In related news, insider James Andrew Pierce sold 400 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $277.88, for a total value of $111,152.00. Following the completion of the sale, the insider now owns 46,676 shares in the company, valued at approximately $12,970,326.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider James Andrew Pierce sold 400 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $277.88, for a total value of $111,152.00. Following the completion of the sale, the insider now owns 46,676 shares in the company, valued at approximately $12,970,326.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 2,161 shares of the company’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $264.31, for a total transaction of $571,173.91. Following the completion of the sale, the insider now owns 10,611 shares of the company’s stock, valued at approximately $2,804,593.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 357,410 shares of company stock worth $97,831,003. 6.50% of the stock is currently owned by insiders.

Stryker Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.