SouthState Corp Has $3.57 Million Stock Holdings in Stryker Co. (NYSE:SYK)

SouthState Corp boosted its stake in Stryker Co. (NYSE:SYK) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,929 shares of the medical technology company’s stock after buying an additional 110 shares during the period. SouthState Corp’s holdings in Stryker were worth $3,572,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Running Oak Capital LLC grew its stake in Stryker by 16.5% in the 4th quarter. Running Oak Capital LLC now owns 30,941 shares of the medical technology company’s stock valued at $9,266,000 after buying an additional 4,384 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Stryker by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 169,527 shares of the medical technology company’s stock valued at $50,767,000 after purchasing an additional 3,632 shares during the period. Fisher Asset Management LLC boosted its holdings in Stryker by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after purchasing an additional 103,326 shares during the period. Heritage Wealth Management LLC bought a new stake in Stryker in the 4th quarter valued at about $1,926,000. Finally, Rogco LP bought a new stake in Stryker in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SYK shares. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Stifel Nicolaus upped their price target on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler upped their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI upped their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Roth Mkm increased their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $359.00.

Stryker Stock Down 0.5 %

SYK traded down $1.49 during midday trading on Thursday, reaching $326.63. 1,839,462 shares of the company were exchanged, compared to its average volume of 1,325,064. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company’s fifty day moving average price is $348.05 and its 200 day moving average price is $316.78. The company has a market cap of $124.27 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. As a group, analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, 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. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Stryker Company 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.