Abbrea Capital LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Abbrea Capital LLC increased its stake in Stryker Co. (NYSE:SYK) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,007 shares of the medical technology company’s stock after purchasing an additional 60 shares during the quarter. Abbrea Capital LLC’s holdings in Stryker were worth $2,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd boosted its stake in shares of Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after acquiring an additional 679,450 shares during the last quarter. Barclays PLC boosted its stake in shares of Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after acquiring an additional 551,798 shares during the last quarter. Morgan Stanley boosted its stake in shares of Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Stryker by 24.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after purchasing an additional 217,672 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Stryker by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after purchasing an additional 194,715 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Roth Mkm lifted their price target on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Truist Financial lifted their price target on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI lifted their price target on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.67.

Stryker Trading Down 0.5 %

Stryker stock traded down $1.54 during trading hours on Friday, hitting $335.61. The company had a trading volume of 1,045,260 shares, compared to its average volume of 1,283,912. The firm has a market cap of $127.69 billion, a P/E ratio of 40.96, a P/E/G ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a 50-day moving average price of $349.16 and a two-hundred day moving average price of $314.40.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio is currently 38.79%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is currently 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.