Ballentine Partners LLC Purchases 1,327 Shares of Stryker Co. (NYSE:SYK)

Ballentine Partners LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,368 shares of the medical technology company’s stock after acquiring an additional 1,327 shares during the quarter. Ballentine Partners LLC’s holdings in Stryker were worth $3,013,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Stryker in the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC lifted its holdings in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the period. RTW Investments LP bought a new position in Stryker in the third quarter valued at approximately $143,392,000. State Street Corp grew its holdings 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 acquiring an additional 316,404 shares during the period. Finally, FMR LLC raised its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

Stryker Price Performance

Shares of SYK opened at $383.91 on Tuesday. The company has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $375.51 and its 200 day simple moving average is $359.17. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

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.