SeaBridge Investment Advisors LLC Has $2.33 Million Stock Position in Stryker Co. (NYSE:SYK)

SeaBridge Investment Advisors LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 6,470 shares of the medical technology company’s stock after purchasing an additional 121 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Stryker were worth $2,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC boosted its holdings in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC grew its position in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Stryker in the 3rd quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC lifted its position in shares of Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after buying an additional 28,421 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $390.90 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market cap of $149.02 billion, a PE ratio of 50.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The stock has a 50-day moving average price of $376.68 and a 200-day moving average price of $362.81.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same quarter last year, the firm earned $3.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SYK shares. JPMorgan Chase & Co. boosted their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Truist Financial increased their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

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.