Longbow Finance SA Makes New Investment in Stryker Co. (NYSE:SYK)

Longbow Finance SA bought a new position in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,692 shares of the medical technology company’s stock, valued at approximately $8,890,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker during the fourth quarter worth $30,000. BankPlus Trust Department acquired a new stake in shares of Stryker during the fourth quarter worth $33,000. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the third quarter worth $36,000. Finally, Activest Wealth Management acquired a new stake in shares of Stryker during the fourth quarter worth $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Stryker Stock Performance

NYSE:SYK opened at $388.11 on Tuesday. The stock has a market cap of $148.09 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average is $378.38 and its 200-day moving average is $369.78. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company earned $3.46 EPS. Equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.