Longbow Finance SA Takes Position in Stryker Co. (NYSE:SYK)

Longbow Finance SA bought a new stake in Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,692 shares of the medical technology company’s stock, valued at approximately $8,890,000.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of Stryker by 15.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock valued at $3,722,000 after acquiring an additional 1,392 shares during the period. Arkadios Wealth Advisors raised its position in shares of Stryker by 23.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 732 shares of the medical technology company’s stock valued at $265,000 after acquiring an additional 137 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of Stryker by 23.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,932 shares of the medical technology company’s stock valued at $1,420,000 after acquiring an additional 746 shares during the period. Welch Group LLC raised its position in shares of Stryker by 7.2% in the 3rd quarter. Welch Group LLC now owns 19,105 shares of the medical technology company’s stock valued at $6,902,000 after acquiring an additional 1,284 shares during the period. Finally, Forbes J M & Co. LLP raised its position in shares of Stryker by 3.6% in the 3rd quarter. Forbes J M & Co. LLP now owns 3,648 shares of the medical technology company’s stock valued at $1,318,000 after acquiring an additional 127 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $388.11 on Tuesday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $378.38 and a 200-day moving average of $369.78. The stock has a market capitalization of $148.09 billion, a P/E ratio of 50.01, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 previous year, the firm earned $3.46 earnings per share. As a group, equities research analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In related 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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction 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 transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % 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

A number of brokerages recently weighed in on SYK. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group raised their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, 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 report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $422.15.

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.