4,748 Shares in Stryker Co. (NYSE:SYK) Acquired by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC bought a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,748 shares of the medical technology company’s stock, valued at approximately $1,710,000. Stryker accounts for 1.7% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 24th biggest position.

Several other large investors have also modified their holdings of the business. Catalyst Financial Partners LLC lifted its position in Stryker by 5.6% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,450 shares of the medical technology company’s stock valued at $522,000 after buying an additional 77 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Stryker by 0.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 133,843 shares of the medical technology company’s stock worth $49,135,000 after acquiring an additional 1,106 shares in the last quarter. Aljian Capital Management LLC boosted its holdings in Stryker by 7.0% during the 4th quarter. Aljian Capital Management LLC now owns 13,493 shares of the medical technology company’s stock valued at $4,858,000 after acquiring an additional 888 shares during the period. Avestar Capital LLC grew its position in Stryker by 8.7% in the 4th quarter. Avestar Capital LLC now owns 3,205 shares of the medical technology company’s stock valued at $1,154,000 after acquiring an additional 257 shares in the last quarter. Finally, One Plus One Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 0.7 %

SYK opened at $388.28 on Friday. The firm has a market cap of $148.02 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The business’s 50 day moving average is $377.19 and its two-hundred day moving average is $366.15. 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 released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 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 business posted $3.46 earnings per share. On average, research analysts predict that Stryker Co. will post 13.49 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. 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 dividend payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’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 in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is owned by insiders.

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.