Triasima Portfolio Management inc. Acquires New Stake in Stryker Co. (NYSE:SYK)

Triasima Portfolio Management inc. acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,190 shares of the medical technology company’s stock, valued at approximately $1,149,000.

A number of other large investors have also made changes to their positions in SYK. Dunhill Financial LLC boosted its stake 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 during the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker during the third quarter worth about $36,000. Crews Bank & Trust purchased a new position in Stryker during the fourth quarter worth about $39,000. Hara Capital LLC purchased a new position in Stryker during the third quarter worth about $42,000. Finally, Grove Bank & Trust lifted its position in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SYK. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $419.37.

Stryker Stock Performance

Shares of NYSE:SYK opened at $396.24 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The business’s 50-day simple moving average is $377.25 and its 200 day simple moving average is $364.47. 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 company has a market cap of $151.06 billion, a P/E ratio of 51.06, a PEG ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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 stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% 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.