Ethic Inc. Purchases 6,307 Shares of Stryker Co. (NYSE:SYK)

Ethic Inc. lifted its stake in shares of Stryker Co. (NYSE:SYK) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,361 shares of the medical technology company’s stock after purchasing an additional 6,307 shares during the quarter. Ethic Inc.’s holdings in Stryker were worth $15,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth about $25,000. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Stryker during the fourth quarter valued at approximately $30,000. BankPlus Trust Department purchased a new position in Stryker in the fourth quarter worth $33,000. Finally, Activest Wealth Management bought a new position in Stryker during the fourth quarter valued at approximately $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly 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 corporate insiders.

Stryker Stock Down 0.4 %

SYK stock opened at $382.68 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a fifty day moving average of $365.66 and a 200-day moving average of $374.20. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock has a market capitalization of $146.06 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is presently 45.41%.

Analyst Ratings Changes

A number of equities analysts recently commented on SYK shares. Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Truist Financial raised their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday. Evercore ISI lowered their price objective on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.05.

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.