ZEGA Investments LLC Invests $1.27 Million in Stryker Co. (NYSE:SYK)

ZEGA Investments LLC bought a new stake in Stryker Co. (NYSE:SYK) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,214 shares of the medical technology company’s stock, valued at approximately $1,267,000.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp grew its position 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 worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. FMR LLC boosted its stake in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.5% during 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 buying an additional 165,490 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Stryker by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after acquiring an additional 48,819 shares during the period. Finally, Janus Henderson Group PLC raised its stake in 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 valued at $711,594,000 after acquiring an additional 28,421 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred 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 owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred 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 owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Down 0.8 %

Stryker stock opened at $371.38 on Friday. The firm has a market capitalization of $141.71 billion, a price-to-earnings ratio of 47.86, a price-to-earnings-growth 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 fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock’s fifty day moving average is $384.28 and its two-hundred day moving average is $373.93.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $3.46 earnings per share. Analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SYK shares. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays lifted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus upped their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial increased their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Company 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.