Stryker Co. (NYSE:SYK) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 169,527 shares of the medical technology company’s stock after purchasing an additional 3,632 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Stryker were worth $50,767,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Magellan Asset Management Ltd increased its holdings in shares of Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after buying an additional 679,450 shares in the last quarter. Barclays PLC boosted its position in shares of Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares during the period. Morgan Stanley raised its holdings in Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after buying an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Stryker by 14.4% in the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after acquiring an additional 194,715 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK stock traded up $1.82 on Friday, reaching $328.45. 1,589,424 shares of the company were exchanged, compared to its average volume of 1,415,127. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The stock’s fifty day moving average price is $347.52 and its 200 day moving average price is $316.85. The firm has a market capitalization of $125.12 billion, a PE ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company posted $2.14 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio is 36.53%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’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 of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SYK has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada increased their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

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.