Simmons Bank Invests $220,000 in Stryker Co. (NYSE:SYK)

Simmons Bank acquired a new stake in Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 733 shares of the medical technology company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of the company. Keybank National Association OH grew its holdings in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC increased its position in shares of Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares during the period. CoreCap Advisors LLC raised its stake in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after acquiring an additional 191 shares in the last quarter. Consolidated Planning Corp purchased a new position in Stryker in the fourth quarter valued at $205,000. Finally, Meritage Portfolio Management acquired a new position in Stryker during the 4th quarter worth $569,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK traded down $3.92 during midday trading on Wednesday, reaching $328.22. 741,924 shares of the company were exchanged, compared to its average volume of 1,325,638. The stock has a fifty day simple moving average of $346.05 and a 200 day simple moving average of $318.84. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $125.04 billion, a P/E ratio of 37.63, a PEG ratio of 2.54 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. BTIG Research increased their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Truist Financial boosted their target price 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Company Profile

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.