Choate Investment Advisors Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Choate Investment Advisors grew its holdings in shares of Stryker Co. (NYSE:SYK) by 9.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,763 shares of the medical technology company’s stock after purchasing an additional 928 shares during the period. Choate Investment Advisors’ holdings in Stryker were worth $3,875,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Diversified Enterprises LLC grew its stake in Stryker by 13.4% during the fourth quarter. Diversified Enterprises LLC now owns 865 shares of the medical technology company’s stock worth $312,000 after buying an additional 102 shares during the period. Natixis Advisors LLC boosted its stake in shares of Stryker by 16.9% in the fourth quarter. Natixis Advisors LLC now owns 184,817 shares of the medical technology company’s stock valued at $66,543,000 after purchasing an additional 26,730 shares during the period. Clearstead Trust LLC boosted its stake in shares of Stryker by 5.1% in the fourth quarter. Clearstead Trust LLC now owns 13,645 shares of the medical technology company’s stock valued at $4,913,000 after purchasing an additional 663 shares during the period. Copperwynd Financial LLC boosted its stake in shares of Stryker by 3.5% in the fourth quarter. Copperwynd Financial LLC now owns 2,362 shares of the medical technology company’s stock valued at $851,000 after purchasing an additional 79 shares during the period. Finally, Picton Mahoney Asset Management boosted its stake in shares of Stryker by 12.1% in the fourth quarter. Picton Mahoney Asset Management now owns 762 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 82 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 1.7 %

SYK stock opened at $369.96 on Friday. 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 Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm’s 50-day simple moving average is $383.04 and its 200 day simple moving average is $373.48. The stock has a market cap of $141.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 in the previous year, the business posted $3.46 EPS. As a group, sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.91%. Stryker’s payout ratio is 43.30%.

Analysts Set New Price Targets

SYK has been the subject of several analyst reports. Barclays upped their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial increased their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now 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 disclosure for this sale can be found here. 5.90% of the stock is 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.