Strategic Wealth Partners Ltd. Increases Stock Position in Stryker Co. (NYSE:SYK)

Strategic Wealth Partners Ltd. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,345 shares of the medical technology company’s stock after buying an additional 4,671 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Stryker were worth $9,066,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tema Etfs LLC acquired a new stake in Stryker in the fourth quarter valued at $287,000. Toronto Dominion Bank increased its holdings in shares of Stryker by 3.9% in the 4th quarter. Toronto Dominion Bank now owns 180,788 shares of the medical technology company’s stock valued at $65,092,000 after purchasing an additional 6,823 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of Stryker by 6.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,428 shares of the medical technology company’s stock valued at $1,237,000 after purchasing an additional 207 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Stryker by 23.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 18,349 shares of the medical technology company’s stock worth $6,607,000 after buying an additional 3,450 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in Stryker by 0.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 143,957 shares of the medical technology company’s stock worth $51,832,000 after buying an additional 872 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $941,586.06. Following the sale, 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. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.5%

Shares of Stryker stock opened at $394.24 on Friday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The business’s fifty day moving average is $366.62 and its two-hundred day moving average is $375.47. 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 firm has a market cap of $150.48 billion, a PE ratio of 50.80, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 earnings per share. Analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Analyst Ratings Changes

Several equities research analysts have recently commented on SYK shares. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Wells Fargo & Company boosted their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $427.05.

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.