Procyon Advisors LLC Buys 324 Shares of Stryker Co. (NYSE:SYK)

Procyon Advisors LLC boosted its stake in Stryker Co. (NYSE:SYK) by 14.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,523 shares of the medical technology company’s stock after acquiring an additional 324 shares during the quarter. Procyon Advisors LLC’s holdings in Stryker were worth $755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new position in Stryker in the 4th quarter valued at approximately $26,000. Quarry LP acquired a new position in Stryker in the 1st quarter valued at approximately $27,000. Rise Advisors LLC increased its position in Stryker by 692.9% in the 3rd quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 97 shares during the period. West Tower Group LLC acquired a new position in Stryker in the 2nd quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC acquired a new position in Stryker in the 2nd quarter valued at approximately $38,000. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded down $1.09 during trading hours on Thursday, reaching $357.62. 92,176 shares of the company were exchanged, compared to its average volume of 1,307,937. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The business’s 50 day simple moving average is $342.51 and its 200-day simple moving average is $305.23. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $135.87 billion, a P/E ratio of 43.15, a P/E/G ratio of 2.86 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 earnings per share. On average, equities research analysts expect that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s payout ratio is 38.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and increased their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $360.00 price objective on shares of Stryker in a research report on Thursday, February 15th. Truist Financial raised their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley raised their price target on shares of Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, December 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $331.52.

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.