Blue Water Asset Management acquired a new stake in Stryker Corporation (NYSE:SYK – Free Report) during the 4th quarter, Holdings Channel reports. The fund acquired 2,716 shares of the medical technology company’s stock, valued at approximately $955,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Stryker by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock valued at $11,917,396,000 after buying an additional 133,892 shares during the last quarter. Alliancebernstein L.P. increased its stake in Stryker by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after buying an additional 741,542 shares during the last quarter. Legal & General Group Plc increased its stake in Stryker by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock valued at $851,457,000 after buying an additional 96,662 shares during the last quarter. Corient Private Wealth LLC increased its stake in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Stryker by 4.5% during the 3rd quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company’s stock worth $689,404,000 after purchasing an additional 80,536 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.
Stryker Stock Up 0.4%
Shares of SYK opened at $306.74 on Friday. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The firm has a market cap of $117.59 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 1.92 and a beta of 0.80. The firm’s 50-day simple moving average is $329.68 and its 200 day simple moving average is $351.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11.
Stryker Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.88 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker’s dividend payout ratio is 40.74%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Evercore set a $355.00 price objective on shares of Stryker in a research note on Friday, May 1st. Leerink Partners assumed coverage on shares of Stryker in a research note on Monday, April 13th. They set an “outperform” rating and a $410.00 price objective on the stock. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Canaccord Genuity Group lowered their price objective on shares of Stryker from $435.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $395.48.
Get Our Latest Report on Stryker
Insider Buying and Selling
In related news, VP M Kathryn Fink sold 5,220 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.85, for a total value of $1,481,697.00. Following the transaction, the vice president owned 13,137 shares in the company, valued at approximately $3,728,937.45. This represents a 28.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.
Stryker Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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