abrdn plc Boosts Position in Stryker Co. (NYSE:SYK)

abrdn plc grew its stake in Stryker Co. (NYSE:SYK) by 147.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,479 shares of the medical technology company’s stock after acquiring an additional 130,800 shares during the period. abrdn plc owned 0.06% of Stryker worth $65,725,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Freedom Wealth Alliance LLC purchased a new position in Stryker in the fourth quarter worth $26,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the last quarter. Quarry LP acquired a new stake in Stryker in the first quarter worth about $27,000. HBC Financial Services PLLC purchased a new stake in shares of Stryker during the fourth quarter worth about $37,000. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, 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 the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last quarter. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $325.43 on Friday. 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 cap of $123.82 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The business has a fifty day moving average of $350.01 and a 200-day moving average of $312.82.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s dividend payout ratio is currently 38.79%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Citigroup raised their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Roth Mkm boosted their price target on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and raised their price target for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.45.

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.