Stryker Co. (NYSE:SYK) Position Lifted by BTC Capital Management Inc.

BTC Capital Management Inc. lifted its stake in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,570 shares of the medical technology company’s stock after purchasing an additional 38 shares during the period. BTC Capital Management Inc.’s holdings in Stryker were worth $925,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Stryker by 2.2% in 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 buying an additional 316,404 shares during the period. FMR LLC lifted 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 acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $2,484,893,000 after acquiring an additional 165,490 shares during the period. Parnassus Investments LLC bought a new position in shares of Stryker during the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC raised its position in shares of Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Down 0.2 %

SYK stock opened at $390.48 on Friday. 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 firm has a market cap of $148.86 billion, a PE ratio of 50.32, a P/E/G ratio of 2.68 and a beta of 0.95. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a 50 day simple moving average of $376.56 and a 200 day simple moving average of $362.38.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.53 earnings per share for the current fiscal 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 issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 43.30%.

Analyst Ratings Changes

A number of brokerages recently commented on SYK. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $416.40.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% 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.