Bourgeon Capital Management LLC Acquires New Position in Stryker Co. (NYSE:SYK)

Bourgeon Capital Management LLC bought a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, Holdings Channel reports. The institutional investor bought 125 shares of the medical technology company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYK. Bremer Bank National Association raised its stake in Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 34 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after purchasing an additional 34 shares during the period. Consolidated Portfolio Review Corp grew its position in Stryker by 3.6% in the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after buying an additional 34 shares in the last quarter. MBL Wealth LLC increased its stake in Stryker by 4.6% during the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after buying an additional 37 shares during the period. Finally, PDS Planning Inc raised its position in shares of Stryker by 3.0% during the 3rd quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock worth $360,000 after buying an additional 38 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Roth Mkm raised their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $339.22.

Stryker Stock Performance

Shares of SYK opened at $339.86 on Tuesday. The firm has a market cap of $129.31 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.75 and a beta of 0.89. The company’s fifty day moving average is $350.75 and its 200-day moving average is $311.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the prior year, the business posted $3.00 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Activity

In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is owned by insiders.

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.