Raymond James & Associates Increases Position in Stryker Co. (NYSE:SYK)

Raymond James & Associates boosted its position in Stryker Co. (NYSE:SYK) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 591,216 shares of the medical technology company’s stock after acquiring an additional 24,689 shares during the period. Raymond James & Associates owned about 0.16% of Stryker worth $211,578,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Rogco LP acquired a new position in shares of Stryker during the 4th quarter valued at $30,000. DSM Capital Partners LLC purchased a new stake in Stryker during the 4th quarter worth $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYK shares. Evercore ISI raised their price target on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Finally, Truist Financial lifted their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is owned by insiders.

Stryker Stock Down 0.5 %

SYK traded down $1.54 during trading on Friday, reaching $335.61. 1,063,790 shares of the stock traded hands, compared to its average volume of 1,108,426. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The stock’s 50-day simple moving average is $348.88 and its two-hundred day simple moving average is $314.88. The stock has a market cap of $127.69 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Stryker 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.