Mattern Capital Management LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Mattern Capital Management LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,622 shares of the medical technology company’s stock after acquiring an additional 515 shares during the period. Stryker makes up approximately 1.2% of Mattern Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Mattern Capital Management LLC’s holdings in Stryker were worth $9,585,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYK. Opal Wealth Advisors LLC lifted its holdings in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 28 shares during the period. Alhambra Investment Management LLC lifted its holdings in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Stryker by 4.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 29 shares during the period. Capital & Planning LLC lifted its holdings in shares of Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares during the period. Finally, Concord Wealth Partners lifted its holdings in shares of Stryker by 2.2% during the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock worth $503,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s 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 completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Stock Down 0.5 %

Shares of SYK opened at $386.47 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. 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 $147.47 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 2.93 and a beta of 0.96. The stock has a 50 day moving average price of $377.92 and a 200 day moving average price of $368.21.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business earned $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Stryker 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.