Ocean Capital Management LLC Has $3.62 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Ocean Capital Management LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,083 shares of the medical technology company’s stock after purchasing an additional 1,163 shares during the quarter. Stryker accounts for 1.5% of Ocean Capital Management LLC’s portfolio, making the stock its 16th largest holding. Ocean Capital Management LLC’s holdings in Stryker were worth $3,618,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new position in Stryker during the 4th quarter valued at about $26,000. Quarry LP acquired a new stake in shares of Stryker during the first quarter worth approximately $27,000. Rise Advisors LLC raised its stake in shares of Stryker by 692.9% in the third 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 last quarter. West Tower Group LLC acquired a new position in Stryker in the second quarter worth $35,000. Finally, Cornerstone Planning Group LLC bought a new stake in Stryker during the 2nd quarter worth about $38,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.52.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Down 0.2 %

Stryker stock opened at $357.87 on Friday. The business’s fifty day moving average is $343.42 and its 200 day moving average is $305.60. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The stock has a market capitalization of $136.16 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

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

Stryker Dividend Announcement

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

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.