Canvas Wealth Advisors LLC Purchases 78 Shares of Stryker Co. (NYSE:SYK)

Canvas Wealth Advisors LLC raised its position in Stryker Co. (NYSE:SYK) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,859 shares of the medical technology company’s stock after acquiring an additional 78 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Stryker were worth $669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC raised its position in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $762,798,000. Finally, Janus Henderson Group PLC increased its stake in shares of Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SYK shares. Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction 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 sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE:SYK opened at $391.42 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market cap of $149.22 billion, a price-to-earnings ratio of 50.44, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The stock’s 50 day simple moving average is $377.23 and its two-hundred day simple moving average is $364.97.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $3.46 EPS. As a group, equities analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.