Procyon Advisors LLC Buys 324 Shares of Stryker Co. (NYSE:SYK)

Procyon Advisors LLC grew its stake in Stryker Co. (NYSE:SYK) by 14.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,523 shares of the medical technology company’s stock after acquiring an additional 324 shares during the period. Procyon Advisors LLC’s holdings in Stryker were worth $755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Columbia Trust Co 01012016 increased its stake in Stryker by 14.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 4,916 shares of the medical technology company’s stock worth $1,472,000 after purchasing an additional 613 shares in the last quarter. Tectonic Advisors LLC increased its stake in Stryker by 5.1% during the 4th quarter. Tectonic Advisors LLC now owns 2,262 shares of the medical technology company’s stock worth $677,000 after purchasing an additional 109 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Stryker during the 4th quarter worth approximately $200,000. Red Door Wealth Management LLC bought a new stake in Stryker during the 4th quarter worth approximately $204,000. Finally, Assenagon Asset Management S.A. increased its stake in Stryker by 1.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock worth $2,641,000 after purchasing an additional 103 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last ninety days. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYK shares. Roth Mkm upped their price target on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley upped their price target on Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Truist Financial upped their price target on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Citigroup increased their price objective on Stryker from $340.00 to $362.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.52.

Stryker Price Performance

Shares of NYSE SYK traded down $1.09 during mid-day trading on Thursday, reaching $357.62. The company had a trading volume of 92,176 shares, compared to its average volume of 1,307,937. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The firm has a market cap of $135.87 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 2.86 and a beta of 0.89. The business’s 50-day simple moving average is $342.51 and its 200 day simple moving average is $305.23.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. On average, research analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.