Sone Capital Management LLC Acquires New Holdings in Stryker Co. (NYSE:SYK)

Sone Capital Management LLC purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,181 shares of the medical technology company's stock, valued at approximately $7,626,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. J. W. Coons Advisors LLC increased its holdings in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after purchasing an additional 26 shares in the last quarter. Mascoma Wealth Management LLC increased its holdings in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares in the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock valued at $654,000 after purchasing an additional 28 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after acquiring an additional 28 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK stock traded down $1.42 on Thursday, reaching $378.33. The stock had a trading volume of 1,048,983 shares, compared to its average volume of 1,345,393. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $367.95 and its two-hundred day moving average is $375.92. The firm has a market capitalization of $144.40 billion, a price-to-earnings ratio of 48.75, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 EPS. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Citigroup boosted their price target on shares of Stryker from $443.00 to $455.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by company insiders.

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.