National Bank of Canada FI Increases Stake in Stryker Co. (NYSE:SYK)

National Bank of Canada FI boosted its stake in Stryker Co. (NYSE:SYK) by 69.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 431,259 shares of the medical technology company’s stock after acquiring an additional 177,033 shares during the quarter. National Bank of Canada FI’s holdings in Stryker were worth $155,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after buying an additional 252,188 shares during the last quarter. State Street Corp grew its position in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. Geode Capital Management LLC increased its stake in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Norges Bank purchased a new position in shares of Stryker in the 4th quarter worth about $1,710,744,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Stryker by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after purchasing an additional 48,819 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $372.73 on Tuesday. The firm has a market cap of $142.27 billion, a P/E ratio of 48.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm’s 50-day simple moving average is $383.86 and its 200-day simple moving average is $374.41. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 last year, the company earned $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio is 43.30%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Truist Financial increased their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Canaccord Genuity Group boosted their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction 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 owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.