Sage Mountain Advisors LLC Has $422,000 Stake in Stryker Co. (NYSE:SYK)

Sage Mountain Advisors LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,408 shares of the medical technology company’s stock after buying an additional 136 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Stryker were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SYK. Magellan Asset Management Ltd lifted its holdings in shares of Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after buying an additional 679,450 shares during the last quarter. Barclays PLC lifted its holdings in Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after purchasing an additional 551,798 shares during the last quarter. Morgan Stanley lifted its holdings in Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Stryker by 14.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK opened at $327.68 on Tuesday. The stock has a market cap of $124.67 billion, a PE ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The stock’s 50 day simple moving average is $349.74 and its 200-day simple moving average is $313.59.

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

Stryker Dividend Announcement

The business also recently declared 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 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Analyst Ratings Changes

Several research firms recently weighed in on SYK. Citigroup boosted their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Roth Mkm lifted 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. Finally, TD Cowen lifted their price target on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $340.45.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on 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 transaction, the director now 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 SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Stryker 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.