SevenBridge Financial Group LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

SevenBridge Financial Group LLC raised its position in Stryker Co. (NYSE:SYK) by 10.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,496 shares of the medical technology company’s stock after acquiring an additional 143 shares during the period. SevenBridge Financial Group LLC’s holdings in Stryker were worth $584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at approximately $25,000. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.3 %

NYSE SYK opened at $373.20 on Wednesday. The firm has a market capitalization of $142.45 billion, a price-to-earnings ratio of 48.09, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company’s 50 day moving average price is $383.41 and its 200 day moving average price is $374.43.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm posted $3.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup reiterated a “buy” rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Finally, Truist Financial boosted their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $421.90.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

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.