Stryker Co. (NYSE:SYK) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in Stryker Co. (NYSE:SYK) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,250 shares of the medical technology company’s stock after purchasing an additional 595 shares during the quarter. NewEdge Wealth LLC’s holdings in Stryker were worth $2,250,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $30,000. BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter valued at about $33,000. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter valued at about $36,000. Finally, Activest Wealth Management acquired a new stake in shares of Stryker in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK stock opened at $386.55 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm’s 50-day moving average is $380.50 and its two-hundred day moving average is $370.92. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $147.50 billion, a PE ratio of 49.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 quarter in the previous year, the firm earned $3.46 earnings per share. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $422.15.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker 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 transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

About Stryker

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.