Blue Trust Inc. Grows Position in Stryker Co. (NYSE:SYK)

Blue Trust Inc. boosted its position in Stryker Co. (NYSE:SYK) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,439 shares of the medical technology company’s stock after purchasing an additional 1,647 shares during the quarter. Blue Trust Inc.’s holdings in Stryker were worth $3,410,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC raised its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its holdings in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in Stryker in the third quarter worth about $762,798,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Finally, Truist Financial upped their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Up 0.1 %

Stryker stock opened at $394.08 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The stock’s 50 day simple moving average is $376.11 and its two-hundred day simple moving average is $360.98. The firm has a market cap of $150.23 billion, a PE ratio of 42.24, a P/E/G ratio of 2.68 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 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 business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend 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.