Glen Eagle Advisors LLC Acquires 178 Shares of Stryker Co. (NYSE:SYK)

Glen Eagle Advisors LLC grew its holdings in Stryker Co. (NYSE:SYK) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 6,719 shares of the medical technology company’s stock after buying an additional 178 shares during the period. Glen Eagle Advisors LLC’s holdings in Stryker were worth $2,419,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Stryker during the fourth quarter worth about $1,710,744,000. Raymond James Financial Inc. bought a new stake in Stryker during the fourth quarter worth about $353,394,000. FMR LLC lifted its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the period. Proficio Capital Partners LLC lifted its position in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 shares during the period. Finally, Northern Trust Corp lifted its position in Stryker by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock worth $1,298,426,000 after purchasing an additional 420,153 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $389.30 on Wednesday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day moving average is $367.75 and its 200 day moving average is $375.89. 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 has a market cap of $148.59 billion, a P/E ratio of 50.17, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the business earned $2.50 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYK. Evercore ISI cut their price objective on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Finally, Argus set a $450.00 price objective on Stryker in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.05.

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.