Ocean Capital Management LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Ocean Capital Management LLC raised its position in Stryker Co. (NYSE:SYK) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,083 shares of the medical technology company’s stock after purchasing an additional 1,163 shares during the quarter. Stryker accounts for approximately 1.5% of Ocean Capital Management LLC’s portfolio, making the stock its 16th largest position. Ocean Capital Management LLC’s holdings in Stryker were worth $3,618,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Stryker in the 4th quarter valued at $26,000. Quarry LP acquired a new position in Stryker in the 1st quarter valued at about $27,000. Rise Advisors LLC increased its stake in Stryker by 692.9% during the third quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 97 shares during the period. West Tower Group LLC purchased a new position in shares of Stryker in the second quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $38,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.2 %

Stryker stock opened at $357.87 on Friday. The stock has a 50 day moving average of $343.42 and a two-hundred day moving average of $305.60. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market capitalization of $136.16 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.92 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned $3.00 earnings per share. As a group, research analysts expect that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 38.79%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Citigroup boosted their price target on shares of Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Truist Financial increased their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their price objective for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $331.52.

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.