Stryker Co. (NYSE:SYK) Stock Position Lifted by CCLA Investment Management

CCLA Investment Management lifted its stake in shares of Stryker Co. (NYSE:SYK) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,087 shares of the medical technology company’s stock after purchasing an additional 14,186 shares during the quarter. Stryker comprises about 1.8% of CCLA Investment Management’s investment portfolio, making the stock its 28th largest holding. CCLA Investment Management’s holdings in Stryker were worth $113,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avestar Capital LLC lifted its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. boosted its stake in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Grimes & Company Inc. increased its position in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares during the period. Moran Wealth Management LLC raised its stake in shares of Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after buying an additional 34 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Stryker by 0.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 7,547 shares of the medical technology company’s stock valued at $2,719,000 after buying an additional 35 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Truist Financial raised their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value 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 approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $362.68 on Wednesday. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The business’s 50-day moving average price is $375.13 and its two-hundred day moving average price is $358.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a market capitalization of $138.26 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

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

Stryker Increases Dividend

The firm also recently disclosed 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. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio 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.