Stryker Co. (NYSE:SYK) Position Increased by Horizon Investments LLC

Horizon Investments LLC increased its stake in Stryker Co. (NYSE:SYK) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 7,752 shares of the medical technology company’s stock after acquiring an additional 181 shares during the period. Horizon Investments LLC’s holdings in Stryker were worth $2,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SYK. GSA Capital Partners LLP bought a new stake in shares of Stryker in the 3rd quarter worth approximately $362,000. Empowered Funds LLC lifted its holdings in shares of Stryker by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after purchasing an additional 399 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Stryker by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock worth $33,683,000 after purchasing an additional 5,995 shares during the last quarter. Drive Wealth Management LLC increased its position in Stryker by 10.3% in the 3rd quarter. Drive Wealth Management LLC now owns 720 shares of the medical technology company’s stock valued at $261,000 after acquiring an additional 67 shares during the period. Finally, Caprock Group LLC increased its position in Stryker by 2.8% in the 3rd quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company’s stock valued at $3,118,000 after acquiring an additional 234 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SYK shares. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley upgraded 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 report on Monday, December 2nd. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup restated a “buy” rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $421.90.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $376.13 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $143.52 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.93 and a beta of 0.95. The stock’s fifty day simple moving average is $383.71 and its 200 day simple moving average is $373.82. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm earned $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.