PDS Planning Inc Grows Stake in Stryker Co. (NYSE:SYK)

PDS Planning Inc raised its stake in Stryker Co. (NYSE:SYK) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,562 shares of the medical technology company’s stock after purchasing an additional 140 shares during the quarter. PDS Planning Inc’s holdings in Stryker were worth $562,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Chicago Capital LLC raised its position in Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC raised its position in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the period. Appleton Partners Inc. MA raised its position in Stryker by 5.0% in the fourth 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 raised its position in Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares during the period. Finally, US Bancorp DE raised its position in Stryker by 0.5% in 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 during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’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 value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. Canaccord Genuity Group raised their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. 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. Finally, Stifel Nicolaus lifted their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Performance

Shares of SYK stock opened at $376.13 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $383.71 and a two-hundred day moving average of $373.82. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a market cap of $143.52 billion, a P/E ratio of 48.47, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the firm earned $3.46 EPS. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.