CCLA Investment Management Boosts Stake in Stryker Corporation $SYK

CCLA Investment Management grew its stake in shares of Stryker Corporation (NYSE:SYK) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 401,936 shares of the medical technology company’s stock after buying an additional 17,778 shares during the quarter. Stryker accounts for 2.3% of CCLA Investment Management’s investment portfolio, making the stock its 15th biggest position. CCLA Investment Management owned 0.11% of Stryker worth $141,248,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Clayton Financial Group LLC bought a new stake in Stryker in the 3rd quarter worth $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the 3rd quarter worth $27,000. Strive Asset Management LLC bought a new stake in Stryker in the 3rd quarter worth $30,000. ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the 3rd quarter worth $34,000. Finally, Lavaca Capital LLC bought a new stake in Stryker in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BTIG Research raised their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Jefferies Financial Group reissued a “buy” rating and issued a $465.00 price target on shares of Stryker in a report on Wednesday, March 4th. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target on the stock. in a report on Monday, January 26th. Finally, Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $425.56.

Stryker Stock Up 2.3%

Shares of Stryker stock opened at $339.85 on Thursday. The stock has a market capitalization of $130.16 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The company has a 50-day simple moving average of $355.78 and a two-hundred day simple moving average of $360.97. Stryker Corporation has a 52-week low of $319.32 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.01 EPS. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’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 transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by insiders.

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.