TruNorth Capital Management LLC Has $7.20 Million Position in Stryker Co. (NYSE:SYK)

TruNorth Capital Management LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,004 shares of the medical technology company’s stock after buying an additional 737 shares during the period. Stryker comprises approximately 93.4% of TruNorth Capital Management LLC’s holdings, making the stock its 11th largest position. TruNorth Capital Management LLC’s holdings in Stryker were worth $7,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC acquired a new stake in Stryker in the third quarter worth $762,798,000. RTW Investments LP bought a new position in shares of Stryker during the 3rd quarter worth about $143,392,000. State Street Corp grew its stake in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the period. FMR LLC increased its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Stryker by 1,552.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 207,889 shares of the medical technology company’s stock worth $75,102,000 after buying an additional 195,310 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was 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 directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SYK shares. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

Stryker Stock Up 1.4 %

SYK stock opened at $388.11 on Tuesday. The stock has a market cap of $148.09 billion, a P/E ratio of 50.01, a P/E/G 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 fifty day simple moving average is $378.38 and its two-hundred day simple 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 issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company posted $3.46 EPS. Analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Stryker Company 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.