Ardent Capital Management Inc. Increases Holdings in Stryker Co. (NYSE:SYK)

Ardent Capital Management Inc. raised its position in Stryker Co. (NYSE:SYK) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 31,804 shares of the medical technology company’s stock after buying an additional 755 shares during the period. Stryker comprises approximately 5.2% of Ardent Capital Management Inc.’s holdings, making the stock its 6th largest holding. Ardent Capital Management Inc.’s holdings in Stryker were worth $11,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its position in shares of Stryker by 10.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,753 shares of the medical technology company’s stock worth $633,000 after purchasing an additional 160 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Stryker by 1.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,236 shares of the medical technology company’s stock worth $4,059,000 after purchasing an additional 187 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in shares of Stryker by 83.4% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,379 shares of the medical technology company’s stock worth $498,000 after purchasing an additional 627 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Stryker by 3.4% in the 3rd quarter. Private Advisor Group LLC now owns 15,967 shares of the medical technology company’s stock worth $5,768,000 after purchasing an additional 526 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of Stryker by 141.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,577 shares of the medical technology company’s stock worth $1,292,000 after purchasing an additional 2,095 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated 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 $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 is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

SYK opened at $386.47 on Friday. The business’s 50-day moving average price is $377.92 and its two-hundred day moving average price is $368.21. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market capitalization of $147.47 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last released 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 return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the business posted $3.46 EPS. Equities analysts expect that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

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.