AJOVista LLC Purchases New Position in Stryker Co. (NYSE:SYK)

AJOVista LLC acquired a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 432 shares of the medical technology company’s stock, valued at approximately $129,000.

A number of other hedge funds have also bought and sold shares of SYK. Vanguard Group Inc. grew its position in shares of Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares in the last quarter. FMR LLC increased its position in shares of Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after buying an additional 144,208 shares during the period. Morgan Stanley lifted its holdings in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Stryker by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after acquiring an additional 103,326 shares during the period. Finally, Northern Trust Corp grew its stake in Stryker by 3.9% during the third quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after acquiring an additional 131,590 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’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 value of $2,756,711.20. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays upped their target price on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI lifted their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Trading Up 0.6 %

Shares of Stryker stock traded up $1.82 on Friday, hitting $328.45. The stock had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The stock’s 50-day simple moving average is $346.99 and its two-hundred day simple moving average is $317.29. The stock has a market cap of $125.12 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, sell-side analysts predict that Stryker Co. will post 11.94 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is 36.53%.

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.