Fayez Sarofim & Co Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Fayez Sarofim & Co lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,380 shares of the medical technology company’s stock after buying an additional 220 shares during the quarter. Fayez Sarofim & Co’s holdings in Stryker were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker in the fourth quarter valued at $25,000. Rakuten Securities Inc. grew its holdings in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $30,000. BankPlus Trust Department purchased a new stake in shares of Stryker in the fourth quarter worth about $33,000. Finally, Activest Wealth Management bought a new position in shares of Stryker in the fourth quarter valued at approximately $36,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $339.96 on Tuesday. The company has a market capitalization of $129.76 billion, a P/E ratio of 43.81, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week 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. The stock has a 50 day moving average price of $370.04 and a two-hundred day moving average price of $373.23.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 last year, the company posted $3.46 earnings per share. Analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $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. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Truist Financial increased their target price 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. Canaccord Genuity Group increased their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Barclays lifted their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $423.53.

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.