836 Shares in Stryker Co. (NYSE:SYK) Purchased by Red Spruce Capital LLC

Red Spruce Capital LLC bought a new stake in Stryker Co. (NYSE:SYK) in the fourth quarter, HoldingsChannel.com reports. The fund bought 836 shares of the medical technology company’s stock, valued at approximately $301,000.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its stake in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC increased its holdings in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC lifted its position in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the period. Finally, Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Barclays upped their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

Shares of SYK opened at $395.86 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $150.91 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The company’s fifty day moving average is $375.61 and its 200-day moving average is $359.53.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 EPS. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Stryker 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.