Stryker Co. (NYSE:SYK) Shares Bought by SouthState Corp

SouthState Corp boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,072 shares of the medical technology company’s stock after purchasing an additional 563 shares during the period. SouthState Corp’s holdings in Stryker were worth $6,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker during the fourth quarter valued at $25,000. Dunhill Financial LLC lifted its position in Stryker by 94.9% during 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. Rakuten Securities Inc. increased its holdings in Stryker by 618.2% in the fourth 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 purchased a new position in Stryker in the fourth quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the fourth quarter valued at $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK opened at $369.96 on Monday. 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 has a market capitalization of $141.17 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 2.93 and a beta of 0.95. The company’s 50-day moving average is $383.04 and its two-hundred day moving average is $373.60. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

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

Stryker Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.91%. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other news, 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 transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Morgan Stanley raised 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, Stifel Nicolaus boosted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $421.90.

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.