Cottage Street Advisors LLC Purchases 100 Shares of Stryker Co. (NYSE:SYK)

Cottage Street Advisors LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,188 shares of the medical technology company’s stock after purchasing an additional 100 shares during the quarter. Stryker makes up 2.1% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Cottage Street Advisors LLC’s holdings in Stryker were worth $4,028,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter valued at $25,000. Dunhill Financial LLC grew its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Rakuten Securities Inc. raised its stake in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in Stryker during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker in the fourth quarter valued at approximately $33,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $373.00 on Wednesday. The company has a market capitalization of $142.33 billion, a price-to-earnings ratio of 48.07, 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. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company’s 50-day moving average is $384.76 and its 200 day moving average is $374.34.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.46 EPS. Sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at $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. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SYK shares. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Citigroup reiterated a “buy” rating and issued a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Royal Bank of Canada boosted their price target 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. Finally, Canaccord Genuity Group increased their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target 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.