Brown Lisle Cummings Inc. Grows Stock Position in Stryker Co. (NYSE:SYK)

Brown Lisle Cummings Inc. grew its position in shares of Stryker Co. (NYSE:SYK) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,568 shares of the medical technology company’s stock after purchasing an additional 182 shares during the period. Brown Lisle Cummings Inc.’s holdings in Stryker were worth $2,365,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC purchased a new position in Stryker in the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC boosted its holdings in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in Stryker in the third quarter valued at about $143,392,000. State Street Corp grew its stake in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its holdings in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Truist Financial upped their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $419.37.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $390.97 on Tuesday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a fifty day moving average price of $376.68 and a two-hundred day moving average price of $363.22. The firm has a market cap of $149.05 billion, a P/E ratio of 50.38, a PEG ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 period in the previous year, the firm earned $3.46 EPS. Research analysts forecast that Stryker Co. will post 13.5 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 43.30%.

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.