Stryker Co. (NYSE:SYK) Stake Lessened by Jackson Square Capital LLC

Jackson Square Capital LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,964 shares of the medical technology company’s stock after selling 1,143 shares during the period. Jackson Square Capital LLC’s holdings in Stryker were worth $2,867,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. TruWealth Advisors LLC lifted its holdings in shares of Stryker by 7.1% in the fourth quarter. TruWealth Advisors LLC now owns 1,927 shares of the medical technology company’s stock valued at $694,000 after buying an additional 128 shares during the period. HB Wealth Management LLC raised its position in Stryker by 2.4% in the fourth quarter. HB Wealth Management LLC now owns 9,476 shares of the medical technology company’s stock worth $3,412,000 after acquiring an additional 221 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Stryker by 6.3% in the 4th quarter. Trust Co. of Vermont now owns 31,699 shares of the medical technology company’s stock valued at $11,413,000 after acquiring an additional 1,887 shares during the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in shares of Stryker by 0.7% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 50,616 shares of the medical technology company’s stock valued at $18,224,000 after purchasing an additional 339 shares in the last quarter. Finally, Howard Financial Services LTD. acquired a new position in shares of Stryker in the 4th quarter worth approximately $307,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $383.91 on Friday. The business has a fifty day simple moving average of $375.51 and a 200 day simple moving average of $358.81. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The firm has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business earned $2.46 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is 36.01%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Profile

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.