Strategic Investment Advisors MI grew its position in Stryker Co. (NYSE:SYK) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,563 shares of the medical technology company’s stock after acquiring an additional 160 shares during the period. Strategic Investment Advisors MI’s holdings in Stryker were worth $328,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of SYK. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Stryker during the second quarter worth about $60,571,000. PGGM Investments bought a new position in shares of Stryker during the 4th quarter valued at about $59,522,000. State Street Corp boosted its position in shares of Stryker by 1.7% during the 3rd quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock valued at $2,918,870,000 after purchasing an additional 229,189 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Stryker by 490.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 265,900 shares of the medical technology company’s stock valued at $57,514,000 after purchasing an additional 220,900 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Stryker by 48.2% during the 3rd quarter. First Trust Advisors LP now owns 643,933 shares of the medical technology company’s stock valued at $139,283,000 after purchasing an additional 209,552 shares in the last quarter. 73.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on SYK shares. Piper Sandler lowered shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research report on Tuesday, January 7th. Barclays lowered shares of Stryker from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $226.00 to $207.00 in a research report on Tuesday, November 5th. Robert W. Baird raised their price objective on shares of Stryker from $239.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI upgraded shares of Stryker from an “in-line” rating to an “outperform” rating in a research report on Thursday, January 2nd. Finally, SunTrust Banks started coverage on shares of Stryker in a research report on Tuesday, January 7th. They set a “hold” rating and a $217.00 price objective for the company. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $222.16.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 EPS. As a group, sell-side analysts anticipate that Stryker Co. will post 8.23 EPS for the current fiscal year.
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 issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio (DPR) is 31.46%.
In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $206.28, for a total transaction of $962,502.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 19,286 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $215.71, for a total transaction of $4,160,183.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,652 shares of company stock worth $5,705,481. Corporate insiders own 7.20% of the company’s stock.
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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