Stryker Co. (NYSE:SYK) Shares Bought by Syon Capital LLC

Syon Capital LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,707 shares of the medical technology company’s stock after buying an additional 684 shares during the quarter. Syon Capital LLC’s holdings in Stryker were worth $1,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Meritage Portfolio Management purchased a new position in shares of Stryker during the fourth quarter valued at approximately $569,000. Bank of New Hampshire raised its stake in Stryker by 1.1% during the fourth quarter. Bank of New Hampshire now owns 16,366 shares of the medical technology company’s stock worth $4,901,000 after purchasing an additional 176 shares during the period. Lyell Wealth Management LP raised its stake in Stryker by 2.4% during the fourth quarter. Lyell Wealth Management LP now owns 31,963 shares of the medical technology company’s stock worth $9,572,000 after purchasing an additional 750 shares during the period. Sycomore Asset Management raised its stake in Stryker by 446.8% during the fourth quarter. Sycomore Asset Management now owns 5,681 shares of the medical technology company’s stock worth $1,699,000 after purchasing an additional 4,642 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Stryker by 7.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,477 shares of the medical technology company’s stock worth $2,539,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial increased their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research note on Wednesday, January 31st. Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI increased their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $340.67.

Stryker Stock Up 0.1 %

SYK traded up $0.30 during trading hours on Thursday, reaching $337.15. 1,525,802 shares of the stock traded hands, compared to its average volume of 1,285,776. The firm’s fifty day simple moving average is $349.39 and its two-hundred day simple moving average is $314.24. The company has a market cap of $128.28 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.70 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $3.00 EPS. As a group, analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s payout ratio is currently 38.79%.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is currently owned by insiders.

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.