IFP Advisors Inc Boosts Stake in Stryker Co. (NYSE:SYK)

IFP Advisors Inc grew its stake in Stryker Co. (NYSE:SYK) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,239 shares of the medical technology company’s stock after acquiring an additional 681 shares during the quarter. IFP Advisors Inc’s holdings in Stryker were worth $808,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SYK. Parnassus Investments LLC purchased a new position in Stryker in the third quarter valued at about $762,798,000. RTW Investments LP bought a new stake in shares of Stryker in the 3rd quarter valued at about $143,392,000. State Street Corp grew its position in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC raised its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Stryker by 1,552.7% during the third quarter. Public Sector Pension Investment Board now owns 207,889 shares of the medical technology company’s stock valued at $75,102,000 after acquiring an additional 195,310 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’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 value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents 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 accessible 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 value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday. Royal Bank of Canada raised their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Stock Down 0.7 %

Stryker stock opened at $389.10 on Friday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a market cap of $148.47 billion, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The business’s 50-day moving average price is $380.06 and its 200 day moving average price is $370.50. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

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, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

About Stryker

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.