Fiduciary Trust Co Acquires 813 Shares of Stryker Co. (NYSE:SYK)

Fiduciary Trust Co increased its holdings in shares of Stryker Co. (NYSE:SYK) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,415 shares of the medical technology company’s stock after purchasing an additional 813 shares during the period. Fiduciary Trust Co’s holdings in Stryker were worth $11,671,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the 4th quarter worth $25,000. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $30,000. BankPlus Trust Department purchased a new stake in Stryker during the fourth quarter valued at approximately $33,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and issued a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $427.05.

Insider Buying and Selling

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction 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 approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

SYK stock opened at $382.68 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50 day simple moving average of $365.66 and a 200-day simple moving average of $374.20. The firm has a market capitalization of $146.06 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

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.