Concurrent Investment Advisors LLC Has $7.37 Million Position in Stryker Corporation $SYK

Key Points

• Concurrent Investment Advisors LLC increased its stake in Stryker Corporation by 36.7% in Q4, buying an additional 5,628 shares to own 20,960 shares worth about $7.37 million.
• Director Ronda E. Stryker sold 250,000 shares for roughly $90.73 million
• Stryker recently beat Q4 estimates with $4.47 EPS (vs. $4.40 expected) and 11.4% revenue growth, while analysts maintain a consensus "Moderate Buy" with an average target of $421.11.

Concurrent Investment Advisors LLC raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 36.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,960 shares of the medical technology company's stock after purchasing an additional 5,628 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Stryker were worth $7,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. United Financial Planning Group LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $27,000. Strive Asset Management LLC bought a new stake in Stryker during the 3rd quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd acquired a new position in Stryker in the 3rd quarter valued at approximately $34,000. Copia Wealth Management increased its position in Stryker by 181.6% in the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock valued at $40,000 after acquiring an additional 69 shares during the period. Finally, WPG Advisers LLC raised its stake in shares of Stryker by 156.8% during the third quarter. WPG Advisers LLC now owns 113 shares of the medical technology company's stock valued at $42,000 after acquiring an additional 69 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYK. Needham & Company LLC boosted their price objective on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Barclays reaffirmed an "overweight" rating and set a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $465.00 price target on shares of Stryker in a research note on Wednesday, March 4th. Finally, Piper Sandler restated an "overweight" rating on shares of Stryker in a research report on Tuesday, January 27th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $421.11.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.60% of the stock is owned by corporate insiders.

Stryker Trading Up 0.1%

SYK opened at $327.84 on Monday. Stryker Corporation has a twelve month low of $319.32 and a twelve month high of $404.87. The company has a fifty day moving average of $349.77 and a 200-day moving average of $358.14. The stock has a market cap of $125.56 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the business earned $4.01 earnings per share. Stryker's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Stryker Corporation will post 14.91 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker's dividend payout ratio is presently 41.90%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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