Stryker Co. (NYSE:SYK) Shares Bought by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lifted its holdings in Stryker Co. (NYSE:SYK) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,616 shares of the medical technology company’s stock after purchasing an additional 339 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Stryker were worth $18,224,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Parnassus Investments LLC purchased a new stake in Stryker during the third quarter valued at about $762,798,000. International Assets Investment Management LLC lifted its position in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new position in Stryker during the 3rd quarter worth approximately $143,392,000. State Street Corp raised its stake 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Stryker by 49.8% in the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial lifted their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK opened at $383.91 on Friday. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market cap of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. The stock’s 50-day moving average is $375.35 and its 200-day moving average is $358.48.

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

Stryker Increases Dividend

The business also recently announced 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 0.88%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

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.