Addison Advisors LLC Increases Holdings in Stryker Co. (NYSE:SYK)

Addison Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 30.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,143 shares of the medical technology company’s stock after purchasing an additional 978 shares during the period. Addison Advisors LLC’s holdings in Stryker were worth $1,241,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bremer Bank National Association lifted its holdings in Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after buying an additional 34 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares during the period. Consolidated Portfolio Review Corp boosted its position in shares of Stryker by 3.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 34 shares in the last quarter. MBL Wealth LLC grew its stake in Stryker by 4.6% in the fourth quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock worth $255,000 after purchasing an additional 37 shares during the period. Finally, PDS Planning Inc raised its holdings in Stryker by 3.0% in the third quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last quarter. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and raised their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. TD Cowen raised their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $340.67.

Stryker Stock Performance

Shares of SYK stock traded down $1.54 during trading hours on Friday, reaching $335.61. The company had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. 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 business has a fifty day moving average price of $348.88 and a 200-day moving average price of $315.16. The firm has a market cap of $127.69 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the previous year, the business earned $3.00 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

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.