Stryker Corporation $SYK Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC grew its position in Stryker Corporation (NYSE:SYK) by 99.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,138 shares of the medical technology company’s stock after purchasing an additional 2,564 shares during the quarter. Procyon Advisors LLC’s holdings in Stryker were worth $1,806,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Stryker during the 2nd quarter worth about $205,000. Neo Ivy Capital Management purchased a new stake in Stryker during the second quarter worth approximately $383,000. AXQ Capital LP purchased a new stake in Stryker during the second quarter worth approximately $567,000. Finally, Sfmg LLC boosted its holdings in Stryker by 10.1% in the second quarter. Sfmg LLC now owns 609 shares of the medical technology company’s stock valued at $241,000 after purchasing an additional 56 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK stock opened at $335.96 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $128.57 billion, a P/E ratio of 39.99, a PEG ratio of 1.96 and a beta of 0.85. The business has a 50 day simple moving average of $363.25 and a 200-day simple moving average of $365.72. Stryker Corporation has a twelve month low of $328.23 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the company posted $4.01 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s payout ratio is currently 41.90%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Barclays restated an “overweight” rating and issued a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Citigroup reissued a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, BTIG Research upped their price objective on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $427.50.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.20% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.