Stryker Co. (NYSE:SYK) Shares Bought by SouthState Corp

SouthState Corp boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,072 shares of the medical technology company’s stock after buying an additional 563 shares during the quarter. SouthState Corp’s holdings in Stryker were worth $6,507,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYK. Assetmark Inc. lifted its holdings in Stryker by 30.7% during the 3rd quarter. Assetmark Inc. now owns 1,013 shares of the medical technology company’s stock worth $366,000 after buying an additional 238 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $362,000. Signature Estate & Investment Advisors LLC increased its position in shares of Stryker by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,459 shares of the medical technology company’s stock valued at $527,000 after purchasing an additional 55 shares during the last quarter. Empowered Funds LLC increased its position in shares of Stryker by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after purchasing an additional 399 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $194,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 1.7 %

SYK stock opened at $369.96 on Monday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock has a market capitalization of $141.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a fifty day moving average of $383.04 and a 200-day moving average of $373.60.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 in the previous year, the firm posted $3.46 earnings per share. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Royal Bank of Canada increased their price objective 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. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $421.90.

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.