Florida Trust Wealth Management Co Raises Holdings in Stryker Corporation $SYK

Key Points

• Florida Trust Wealth Management boosted its stake in Stryker by 6.0% to 57,858 shares, worth $20.335 million at the end of the quarter.
• Stryker beat quarterly estimates with $4.47 EPS and $7.17 billion in revenue (up 11.4% year-over-year) and declared a $0.88 quarterly dividend ($3.52 annual, ~1.1% yield).
• Director Ronda E. Stryker sold 250,000 shares for about $90.73 million, while analysts maintain a consensus "Moderate Buy" with an average price target of $427.50.

Florida Trust Wealth Management Co boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,858 shares of the medical technology company's stock after acquiring an additional 3,274 shares during the quarter. Florida Trust Wealth Management Co's holdings in Stryker were worth $20,335,000 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 the business. Clayton Financial Group LLC purchased a new position in shares of Stryker during the 3rd quarter worth $26,000. United Financial Planning Group LLC purchased a new stake in Stryker in the 3rd quarter valued at about $27,000. Howard Hughes Medical Institute acquired a new position in Stryker in the second quarter valued at about $29,000. Strive Asset Management LLC purchased a new position in Stryker during the third quarter worth about $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Stryker during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.0%

SYK opened at $331.48 on Friday. The business has a fifty day moving average price of $357.10 and a 200 day moving average price of $361.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $319.32 and a 12 month high of $404.87. The stock has a market capitalization of $126.95 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.94 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter last year, the business posted $4.01 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SYK shares. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research note on Friday, January 9th. William Blair reissued an "outperform" rating on shares of Stryker in a research report on Thursday, March 5th. Piper Sandler restated an "overweight" rating on shares of Stryker in a research note on Tuesday, January 27th. Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the stock an "outperform" rating in a research report on Friday, January 9th. Finally, TD Cowen cut Stryker from a "buy" rating to a "hold" rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $427.50.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by company insiders.

About Stryker

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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