Alley Investment Management Company LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Alley Investment Management Company LLC lifted its position in Stryker Co. (NYSE:SYK) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,967 shares of the medical technology company’s stock after purchasing an additional 89 shares during the quarter. Stryker comprises about 1.5% of Alley Investment Management Company LLC’s holdings, making the stock its 27th biggest holding. Alley Investment Management Company LLC’s holdings in Stryker were worth $12,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after purchasing an additional 48,819 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Stryker by 10.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 22,716 shares of the medical technology company’s stock valued at $8,179,000 after buying an additional 2,234 shares during the last quarter. Meridian Wealth Management LLC lifted its position in Stryker by 3.6% in the fourth quarter. Meridian Wealth Management LLC now owns 1,908 shares of the medical technology company’s stock valued at $687,000 after buying an additional 67 shares during the last quarter. Mission Wealth Management LP lifted its position in Stryker by 7.6% in the fourth quarter. Mission Wealth Management LP now owns 8,504 shares of the medical technology company’s stock valued at $3,062,000 after buying an additional 601 shares during the last quarter. Finally, Auxano Advisors LLC lifted its position in Stryker by 4.1% in the fourth quarter. Auxano Advisors LLC now owns 811 shares of the medical technology company’s stock valued at $292,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $394.53 on Tuesday. The firm has a market capitalization of $150.54 billion, a P/E ratio of 50.84, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $381.06 and its two-hundred day moving average is $371.92.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 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 23.58%. During the same period last year, the company earned $3.46 EPS. Research analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada upped their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial increased their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

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.