Providence Capital Advisors LLC Invests $4.90 Million in Stryker Co. (NYSE:SYK)

Providence Capital Advisors LLC purchased a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,615 shares of the medical technology company’s stock, valued at approximately $4,902,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Chicago Capital LLC lifted its holdings in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares during the period. Zhang Financial LLC increased its stake in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after buying an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA raised its stake in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the period. Metis Global Partners LLC boosted its position in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after acquiring an additional 1,561 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after purchasing an additional 976 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.0 %

NYSE:SYK opened at $367.87 on Friday. The company’s fifty day moving average price is $384.47 and its 200-day moving average price is $374.24. The firm has a market capitalization of $140.37 billion, a P/E ratio of 47.41, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. 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 quarter last year, the business posted $3.46 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared 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 is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SYK shares. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial lifted their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Finally, Argus set a $450.00 price target on Stryker in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $421.90.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the 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 of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on 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 in the company, valued at $1,428,567,498. This represents 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.

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.