Vise Technologies Inc. Increases Position in Stryker Co. (NYSE:SYK)

Vise Technologies Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 100.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,620 shares of the medical technology company’s stock after buying an additional 1,812 shares during the quarter. Vise Technologies Inc.’s holdings in Stryker were worth $1,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Fin Capital Inc. boosted its holdings in shares of Stryker by 1.4% during the fourth quarter. Blue Fin Capital Inc. now owns 11,034 shares of the medical technology company’s stock worth $3,973,000 after purchasing an additional 151 shares during the period. Connecticut Wealth Management LLC lifted its holdings in Stryker by 92.2% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,401 shares of the medical technology company’s stock worth $504,000 after buying an additional 672 shares during the period. Cornerstone Advisory LLC lifted its holdings in Stryker by 0.6% in the fourth quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company’s stock worth $2,024,000 after buying an additional 31 shares during the period. 49 Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $227,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Stryker by 14.8% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,678 shares of the medical technology company’s stock valued at $23,647,000 after purchasing an additional 8,468 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYK. Roth Mkm raised their price target on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial boosted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Evercore ISI cut their price objective on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Down 0.3%

Shares of NYSE SYK opened at $377.01 on Friday. The firm’s 50-day moving average price is $368.06 and its 200-day moving average price is $376.05. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $143.90 billion, a price-to-earnings ratio of 48.58, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the company posted $2.50 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio is currently 45.41%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.90% of the company’s stock.

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.