RFG Advisory LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

RFG Advisory LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 44.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,389 shares of the medical technology company’s stock after purchasing an additional 429 shares during the period. RFG Advisory LLC’s holdings in Stryker were worth $416,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Keybank National Association OH increased its stake in shares of Stryker by 3.5% during the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after purchasing an additional 952 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Stryker by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Stryker by 5.7% during the 4th quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after purchasing an additional 4,143 shares in the last quarter. Hunter Perkins Capital Management LLC increased its stake in shares of Stryker by 50.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the medical technology company’s stock worth $2,879,000 after purchasing an additional 3,225 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its position in Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock worth $130,264,000 after acquiring an additional 85,240 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYK. Truist Financial raised their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Evercore ISI raised their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. TD Cowen raised their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm lifted their price target on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $338.09.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 1.2 %

Shares of Stryker stock opened at $342.05 on Friday. The company has a fifty day moving average price of $350.82 and a 200 day moving average price of $310.38. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market cap of $130.14 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker’s dividend payout ratio is currently 38.79%.

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.