Invesco Ltd. Buys 266,587 Shares of Stryker Co. (NYSE:SYK)

Invesco Ltd. raised its stake in Stryker Co. (NYSE:SYK) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,007,105 shares of the medical technology company’s stock after purchasing an additional 266,587 shares during the period. Invesco Ltd. owned 0.53% of Stryker worth $722,658,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYK. Chicago Capital LLC grew its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares during the last quarter. Zhang Financial LLC boosted its holdings in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares during the period. Appleton Partners Inc. MA grew its position in shares of Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after purchasing an additional 1,561 shares during the period. Finally, US Bancorp DE lifted its holdings in Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after purchasing an additional 976 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $345.46 on Tuesday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $380.60 and its 200 day simple moving average is $374.26. The firm has a market capitalization of $131.86 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last announced 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 13.25% and a return on equity of 23.58%. During the same quarter last year, the firm posted $3.46 EPS. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on 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 directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada boosted their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Argus set a $450.00 target price on shares of Stryker in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

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.