Stryker Co. (NYSE:SYK) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in Stryker Co. (NYSE:SYK) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,523 shares of the medical technology company’s stock after purchasing an additional 324 shares during the quarter. Procyon Advisors LLC’s holdings in Stryker were worth $755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keybank National Association OH increased its stake in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after acquiring an additional 952 shares during the last quarter. CoreCap Advisors LLC increased its stake in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after acquiring an additional 191 shares during the last quarter. DNB Asset Management AS increased its stake in Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after acquiring an additional 4,143 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Stryker during the third quarter worth $30,365,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Stryker during the third quarter worth $6,578,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Truist Financial raised their price target on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Citigroup raised their price target on Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Roth Mkm lifted their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $331.52.

Stryker Stock Performance

Shares of NYSE SYK traded down $1.09 during trading hours on Thursday, reaching $357.62. The stock had a trading volume of 92,176 shares, compared to its average volume of 1,307,937. The firm has a market cap of $135.87 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 2.86 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm has a 50-day moving average of $342.51 and a 200-day moving average of $305.23.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. Equities research analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is presently 38.79%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Insiders own 5.90% of the company’s stock.

About Stryker

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.