Fenimore Asset Management Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,220 shares of the medical technology company’s stock after buying an additional 5,832 shares during the period. Stryker makes up 3.2% of Fenimore Asset Management Inc.’s portfolio, making the stock its 6th biggest position. Fenimore Asset Management Inc.’s holdings in Stryker were worth $78,409,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of SYK. Fundsmith Equity Fund L.P. bought a new position in Stryker during the second quarter worth about $931,542,000. Capital International Investors bought a new position in Stryker during the third quarter worth about $831,822,000. Capital World Investors boosted its holdings in Stryker by 987.2% during the third quarter. Capital World Investors now owns 1,657,979 shares of the medical technology company’s stock worth $294,590,000 after buying an additional 1,505,479 shares during the last quarter. Winslow Capital Management LLC boosted its holdings in Stryker by 215,255.1% during the third quarter. Winslow Capital Management LLC now owns 1,109,079 shares of the medical technology company’s stock worth $197,061,000 after buying an additional 1,108,564 shares during the last quarter. Finally, FMR LLC boosted its holdings in Stryker by 24.0% during the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after buying an additional 1,032,333 shares during the last quarter. Hedge funds and other institutional investors own 73.30% of the company’s stock.
A number of equities analysts have issued reports on SYK shares. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a report on Wednesday, December 5th. Cowen set a $195.00 target price on Stryker and gave the stock a “buy” rating in a report on Friday, November 9th. Deutsche Bank initiated coverage on Stryker in a report on Wednesday, January 2nd. They set a “buy” rating and a $179.00 target price on the stock. Oppenheimer set a $170.00 price objective on Stryker and gave the company a “hold” rating in a report on Friday, October 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Friday, November 9th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $181.68.
In related news, VP M Kathryn Fink sold 415 shares of Stryker stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Timothy J. Scannell sold 9,332 shares of Stryker stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $161.60, for a total value of $1,508,051.20. The disclosure for this sale can be found here. In the last three months, insiders sold 12,108 shares of company stock worth $1,981,471. 7.30% of the stock is owned by insiders.
Stryker stock traded down $2.01 during midday trading on Friday, reaching $159.33. The stock had a trading volume of 17,181 shares, compared to its average volume of 1,454,998. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $179.84. The firm has a market cap of $59.80 billion, a PE ratio of 24.55, a P/E/G ratio of 1.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. As a group, equities research analysts predict that Stryker Co. will post 7.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.47. Stryker’s dividend payout ratio (DPR) is currently 32.05%.
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Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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