Cannell & Spears LLC Purchases 45 Shares of Stryker Co. (NYSE:SYK)

Cannell & Spears LLC raised its position in Stryker Co. (NYSE:SYK) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,697 shares of the medical technology company’s stock after acquiring an additional 45 shares during the period. Cannell & Spears LLC’s holdings in Stryker were worth $1,691,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. State Street Corp lifted its position in Stryker by 2.2% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Norges Bank acquired a new stake in shares of Stryker in the fourth quarter valued at about $1,710,744,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Stryker by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after acquiring an additional 48,819 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Canaccord Genuity Group lifted their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

SYK stock opened at $372.73 on Tuesday. The stock has a market cap of $142.27 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.93 and a beta of 0.95. 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 50 day simple moving average of $383.86 and a 200 day simple moving average of $374.41. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $3.46 earnings per share. Research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.