Stonegate Investment Group LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Stonegate Investment Group LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,156 shares of the medical technology company’s stock after acquiring an additional 42 shares during the quarter. Stonegate Investment Group LLC’s holdings in Stryker were worth $776,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in shares of Stryker in the third quarter worth about $762,798,000. International Assets Investment Management LLC grew its stake in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares in the last quarter. RTW Investments LP bought a new stake in Stryker during the 3rd quarter valued at $143,392,000. State Street Corp lifted its position in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $394.92 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52-week low of $310.74 and a 52-week high of $406.19. The company has a fifty day moving average of $376.32 and a 200-day moving average of $361.59. The stock has a market capitalization of $150.55 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results 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 16.34% and a return on equity of 23.07%. During the same quarter last year, the business earned $3.46 earnings per share. Equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYK. UBS Group boosted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Truist Financial upped their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.