Westpac Banking Corp Grows Holdings in Stryker Co. (NYSE:SYK)

Westpac Banking Corp grew its position in shares of Stryker Co. (NYSE:SYKFree Report) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,879 shares of the medical technology company’s stock after purchasing an additional 2,663 shares during the period. Westpac Banking Corp’s holdings in Stryker were worth $7,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Bremer Bank National Association grew its position in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after acquiring an additional 34 shares during the last quarter. Consolidated Portfolio Review Corp lifted its holdings in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 34 shares during the period. FourThought Financial Partners LLC boosted its position in shares of Stryker by 3.3% in the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after acquiring an additional 34 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in Stryker by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,154 shares of the medical technology company’s stock valued at $346,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by insiders.

Stryker Stock Performance

Shares of NYSE:SYK traded up $7.33 during trading on Wednesday, reaching $331.63. 709,141 shares of the company’s stock traded hands, compared to its average volume of 1,327,610. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company has a 50 day moving average of $343.60 and a 200-day moving average of $321.17. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market capitalization of $126.33 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 EPS. On average, equities analysts expect that Stryker Co. will post 11.94 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.96%. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYK shares. BTIG Research lifted their price target on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. 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. Piper Sandler lifted their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird increased their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $365.94.

View Our Latest Stock Report on SYK

Stryker Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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