Bruce G. Allen Investments LLC Makes New $105,000 Investment in Stryker Co. (NYSE:SYK)

Bruce G. Allen Investments LLC purchased a new stake in Stryker Co. (NYSE:SYKFree Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 350 shares of the medical technology company’s stock, valued at approximately $105,000.

Other hedge funds have also modified their holdings of the company. Keybank National Association OH raised its holdings in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after purchasing an additional 952 shares during the last quarter. DNB Asset Management AS raised its holdings in Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after purchasing an additional 4,143 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Stryker during the third quarter worth $30,365,000. Contravisory Investment Management Inc. acquired a new position in Stryker during the third quarter worth $6,578,000. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Stryker by 299.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 8,663 shares of the medical technology company’s stock worth $2,367,000 after purchasing an additional 6,496 shares during the last quarter. 76.24% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK stock opened at $354.08 on Tuesday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $134.53 billion, a PE ratio of 42.92, a PEG ratio of 2.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The firm’s 50 day moving average price is $337.36 and its two-hundred day moving average price is $302.45.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. As a group, analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio is currently 38.79%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker 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 sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction 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 sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a report on Wednesday, January 31st. Citigroup raised their price target on Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $331.52.

Check Out Our Latest Research Report on Stryker

Stryker Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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