Stryker Co. (NYSE:SYK) Shares Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 28.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,356 shares of the medical technology company’s stock after acquiring an additional 975 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Stryker were worth $1,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. State Street Corp boosted its stake in Stryker by 2.2% in 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 buying an additional 316,404 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $2,484,893,000 after buying an additional 165,490 shares during the period. Norges Bank acquired a new position in shares of Stryker during the 4th quarter valued at about $1,710,744,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Stryker by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after acquiring an additional 48,819 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $372.73 on Tuesday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a market cap of $142.27 billion, a P/E ratio of 48.03, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a 50-day moving average of $383.86 and a two-hundred day moving average of $374.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the 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 transaction, the director now owns 14,895 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business’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 directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial upped 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. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Barclays increased their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup reissued a “buy” rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

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.