Havemeyer Place LP purchased a new position in shares of Stryker Corporation (NYSE:SYK – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,409 shares of the medical technology company’s stock, valued at approximately $1,901,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Greykasell Wealth Strategies Inc. acquired a new stake in Stryker during the 4th quarter worth about $44,000. Schwallier Wealth Management LLC acquired a new stake in shares of Stryker during the 4th quarter valued at about $420,000. Peachtree Investment Partners LLC grew its position in shares of Stryker by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 4,388 shares of the medical technology company’s stock valued at $1,542,000 after acquiring an additional 59 shares during the period. MCF Advisors LLC grew its position in shares of Stryker by 3.8% during the 4th quarter. MCF Advisors LLC now owns 1,174 shares of the medical technology company’s stock valued at $413,000 after acquiring an additional 43 shares during the period. Finally, OneAscent Financial Services LLC grew its position in shares of Stryker by 4.2% during the 4th quarter. OneAscent Financial Services LLC now owns 1,016 shares of the medical technology company’s stock valued at $357,000 after acquiring an additional 41 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Stock Up 1.5%
Shares of SYK opened at $305.71 on Friday. 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 Corporation has a one year low of $281.00 and a one year high of $404.87. The stock has a market capitalization of $117.20 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 1.93 and a beta of 0.78. The stock has a 50 day moving average price of $318.43 and a 200 day moving average price of $345.86.
Stryker Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker’s payout ratio is presently 40.74%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SYK. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings cut Stryker from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Stryker in a research report on Friday, May 1st. Truist Financial restated a “hold” rating and set a $330.00 target price (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Finally, Citigroup dropped their target price on Stryker from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $395.33.
Read Our Latest Analysis on SYK
Insiders Place Their Bets
In other news, VP Robert S. Fletcher sold 4,544 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president owned 13,137 shares of the company’s stock, valued at $3,728,937.45. This trade represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 323,264 shares of company stock valued at $100,659,489 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.
About Stryker
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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