Farther Finance Advisors LLC Boosts Stake in Stryker Corporation $SYK

Key Points

• Farther Finance Advisors LLC increased its stake in Stryker by 52.0% in Q4, owning 14,793 shares after buying 5,058 more, valued at about $5.20 million (institutional ownership is ~77.09%).
• Director Ronda E. Stryker executed a large insider sale of 250,000 shares for roughly $90.73 million, reducing her stake by about 9.23% (company insiders now own ~4.60%).
• Stryker topped Q4 expectations with EPS $4.47 and $7.17B revenue (up 11.4% YoY), and analysts hold an average "Moderate Buy" rating with a $421.11 price target (15 Buys, 6 Holds).

Farther Finance Advisors LLC raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 52.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,793 shares of the medical technology company's stock after buying an additional 5,058 shares during the period. Farther Finance Advisors LLC's holdings in Stryker were worth $5,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Brighton Jones LLC raised its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Stryker in the 2nd quarter valued at about $205,000. Marshall Wace LLP raised its stake in shares of Stryker by 107.9% in the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company's stock valued at $2,255,000 after purchasing an additional 77,831 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Stryker in the 2nd quarter valued at about $219,000. Finally, HUB Investment Partners LLC acquired a new stake in shares of Stryker in the 2nd quarter valued at about $253,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYK shares. Weiss Ratings restated a "hold (c+)" rating on shares of Stryker in a research note on Monday, December 22nd. Citizens Jmp upgraded shares of Stryker from a "market perform" rating to an "outperform" rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Sanford C. Bernstein upped their target price on shares of Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a research note on Friday, January 9th. Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. Finally, Raymond James Financial upgraded shares of Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $421.11.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is currently owned by company insiders.

Stryker Price Performance

SYK opened at $337.76 on Friday. The firm has a market cap of $129.36 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. Stryker Corporation has a fifty-two week low of $319.32 and a fifty-two week high of $404.87. The company's 50-day moving average price is $353.28 and its 200 day moving average price is $359.79. 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 quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.01 earnings per share. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker's dividend payout ratio is 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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