Sycomore Asset Management Grows Position in Stryker Co. (NYSE:SYK)

Sycomore Asset Management raised its position in shares of Stryker Co. (NYSE:SYK) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,578 shares of the medical technology company’s stock after buying an additional 6,643 shares during the period. Stryker comprises about 2.2% of Sycomore Asset Management’s investment portfolio, making the stock its 11th biggest holding. Sycomore Asset Management’s holdings in Stryker were worth $17,192,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SYK. Dunhill Financial LLC raised its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth about $36,000. Activest Wealth Management purchased a new stake in Stryker in the fourth quarter worth about $36,000. Crews Bank & Trust purchased a new position in shares of Stryker during the 4th quarter worth approximately $39,000. Finally, Hara Capital LLC bought a new position in shares of Stryker in the 3rd quarter worth approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $391.42 on Monday. The stock has a market cap of $149.22 billion, a PE ratio of 50.44, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a fifty day moving average price of $377.23 and a 200-day moving average price of $364.97. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the company earned $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SYK shares. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $419.37.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is 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.