Buffalo Business & Estate Services Ltd. Takes Position in Stryker Corporation $SYK

Buffalo Business & Estate Services Ltd. acquired a new position in Stryker Corporation (NYSE:SYK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,032 shares of the medical technology company’s stock, valued at approximately $714,000.

Several other large investors have also recently bought and sold shares of SYK. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Stryker in the second quarter worth about $205,000. Edgestream Partners L.P. raised its holdings in Stryker by 70.5% during the 2nd quarter. Edgestream Partners L.P. now owns 1,523 shares of the medical technology company’s stock worth $603,000 after purchasing an additional 630 shares during the last quarter. Guggenheim Capital LLC lifted its position in Stryker by 2.5% during the 2nd quarter. Guggenheim Capital LLC now owns 6,180 shares of the medical technology company’s stock valued at $2,445,000 after purchasing an additional 152 shares during the period. Finally, Marshall Wace LLP lifted its position in Stryker by 107.9% during the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock valued at $2,255,000 after purchasing an additional 77,831 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.0%

Stryker stock opened at $331.48 on Monday. The firm has a market capitalization of $126.95 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.94 and a beta of 0.92. The company’s 50 day simple moving average is $357.10 and its 200 day simple moving average is $361.76. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a fifty-two week low of $319.32 and a fifty-two week high of $404.87.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Truist Financial reduced their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Evercore set a $390.00 target price on shares of Stryker in a research report on Monday, January 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $465.00 price target on shares of Stryker in a research report on Wednesday, March 4th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $427.50.

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.