King Luther Capital Management Corp Boosts Stock Position in Stryker Co. (NYSE:SYK)

King Luther Capital Management Corp raised its stake in shares of Stryker Co. (NYSE:SYK) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 395,968 shares of the medical technology company’s stock after acquiring an additional 2,142 shares during the period. King Luther Capital Management Corp’s holdings in Stryker were worth $142,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI raised its stake in Stryker by 0.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 56,103 shares of the medical technology company’s stock valued at $20,200,000 after acquiring an additional 430 shares during the last quarter. Davis R M Inc. increased its position in Stryker by 7.3% during the 4th quarter. Davis R M Inc. now owns 133,017 shares of the medical technology company’s stock worth $47,893,000 after purchasing an additional 9,057 shares during the period. Independent Advisor Alliance increased its position in Stryker by 19.4% during the 4th quarter. Independent Advisor Alliance now owns 8,149 shares of the medical technology company’s stock worth $2,934,000 after purchasing an additional 1,325 shares during the period. Paragon Private Wealth Management LLC increased its position in Stryker by 12.6% during the 4th quarter. Paragon Private Wealth Management LLC now owns 1,258 shares of the medical technology company’s stock worth $453,000 after purchasing an additional 141 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Stryker by 6.5% during the 4th quarter. Johnson Investment Counsel Inc. now owns 176,956 shares of the medical technology company’s stock worth $63,713,000 after purchasing an additional 10,856 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The shares were 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 owns 3,642,075 shares of the company’s stock, valued at approximately $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.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Truist Financial boosted 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. Royal Bank of Canada upped 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. Finally, Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $421.90.

Stryker Trading Down 2.7 %

Shares of Stryker stock opened at $369.16 on Tuesday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market cap of $140.87 billion, a PE ratio of 47.57, a P/E/G ratio of 2.93 and a beta of 0.95. The business’s fifty day moving average is $382.59 and its two-hundred day moving average is $373.31. 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 issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 period last year, the company posted $3.46 EPS. Analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 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.