Stryker Co. (NYSE:SYK) Shares Acquired by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC grew its holdings in Stryker Co. (NYSE:SYK) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,798 shares of the medical technology company’s stock after purchasing an additional 168 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Stryker were worth $539,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Keybank National Association OH grew its position in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its stake in shares of Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after buying an additional 497 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter valued at approximately $1,561,000. CoreCap Advisors LLC lifted its stake in shares of Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares during the period. Finally, Consolidated Planning Corp purchased a new position in shares of Stryker during the fourth quarter valued at approximately $205,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. UBS Group upped their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler upped their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $367.32.

Stryker Stock Performance

Shares of SYK stock opened at $335.42 on Thursday. The company’s fifty day simple moving average is $340.69 and its 200-day simple moving average is $323.38. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $127.78 billion, a PE ratio of 38.29, a P/E/G ratio of 2.60 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the firm posted $2.14 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.90% 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.