Stryker Corporation $SYK Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in Stryker Corporation (NYSE:SYK) by 19.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,149 shares of the medical technology company’s stock after buying an additional 4,896 shares during the period. DAVENPORT & Co LLC’s holdings in Stryker were worth $10,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Davis R M Inc. grew its stake in shares of Stryker by 1.8% during the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock worth $51,285,000 after purchasing an additional 2,512 shares during the period. Terra Alpha Investments LLC purchased a new position in shares of Stryker during the 3rd quarter valued at approximately $1,216,000. Kepler Cheuvreux Suisse SA purchased a new position in shares of Stryker during the 3rd quarter valued at approximately $27,952,000. Diversified Trust Co grew its stake in Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Stryker in the 2nd quarter worth $4,785,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group set a $399.00 price objective on shares of Stryker in a research report on Friday, January 9th. Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. BTIG Research raised their price target 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. Finally, Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $427.50.

Stryker Trading Down 0.4%

Shares of SYK opened at $327.34 on Thursday. Stryker Corporation has a 52-week low of $324.93 and a 52-week high of $404.87. The stock has a market cap of $125.37 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. The firm’s fifty day moving average is $361.50 and its two-hundred day moving average is $364.58. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued 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. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.01 earnings per share. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 issued 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 1.1%. Stryker’s dividend payout ratio is presently 41.90%.

Stryker Company Profile

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.