National Bank of Canada FI Raises Holdings in Stryker Co. (NYSE:SYK)

National Bank of Canada FI increased its position in Stryker Co. (NYSE:SYK) by 69.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 431,259 shares of the medical technology company’s stock after purchasing an additional 177,033 shares during the period. National Bank of Canada FI owned 0.11% of Stryker worth $155,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Rockefeller Capital Management L.P. raised its position in Stryker by 6.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 54,564 shares of the medical technology company’s stock valued at $19,712,000 after purchasing an additional 3,358 shares during the last quarter. Edgestream Partners L.P. increased its stake in Stryker by 216.1% in the third quarter. Edgestream Partners L.P. now owns 3,430 shares of the medical technology company’s stock valued at $1,239,000 after purchasing an additional 2,345 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Stryker in the third quarter valued at about $346,000. Benjamin Edwards Inc. boosted its stake in shares of Stryker by 2,140.1% during the third quarter. Benjamin Edwards Inc. now owns 140,676 shares of the medical technology company’s stock worth $50,833,000 after buying an additional 134,396 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its holdings in shares of Stryker by 3.8% during the third quarter. Beacon Investment Advisory Services Inc. now owns 68,564 shares of the medical technology company’s stock worth $24,769,000 after buying an additional 2,505 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now 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. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SYK shares. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Trading Up 2.3 %

NYSE:SYK opened at $372.73 on Tuesday. The company has a market capitalization of $142.27 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a fifty day simple moving average of $383.86 and a 200-day simple moving average of $374.41. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $3.46 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is 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.