Calamos Advisors LLC Increases Stock Position in Stryker Co. (NYSE:SYK)

Calamos Advisors LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,852 shares of the medical technology company’s stock after acquiring an additional 23,371 shares during the quarter. Calamos Advisors LLC’s holdings in Stryker were worth $27,506,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SYK. Norges Bank purchased a new stake in shares of Stryker during the 4th quarter valued at about $776,333,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Stryker by 109,726.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock valued at $767,686,000 after acquiring an additional 3,137,089 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of Stryker by 87,902.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after acquiring an additional 2,075,371 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Stryker in the 4th quarter worth approximately $312,539,000. Finally, Morgan Stanley lifted its stake in shares of Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock traded up $1.44 on Friday, hitting $328.89. 200,582 shares of the company traded hands, compared to its average volume of 1,249,636. The stock has a market capitalization of $125.13 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 2.71 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. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The business has a 50-day simple moving average of $350.34 and a 200 day simple moving average of $312.14.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The firm 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 company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share. Research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYK shares. Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial increased their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.45.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.