Stryker Corporation $SYK Stock Position Increased by Advisors Capital Management LLC

Key Points

• Advisors Capital Management raised its stake in Stryker by 6.5% in Q4 to 66,695 shares worth $23.44 million, and institutional investors now own about 77.09% of the company.
• Director Ronda E. Stryker sold 250,000 shares at an average of $362.92 for roughly $90.73 million, trimming her ownership by 9.23%; total insider ownership is about 4.60%.
• Stryker beat Q4 expectations with EPS of $4.47 vs. $4.40 and revenue of $7.17 billion (up 11.4% YoY), announced a $0.88 quarterly dividend (1.1% yield), and carries a consensus "Moderate Buy" analyst rating with an average target of $421.11.

Advisors Capital Management LLC raised its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,695 shares of the medical technology company's stock after purchasing an additional 4,071 shares during the period. Advisors Capital Management LLC's holdings in Stryker were worth $23,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank increased its holdings in shares of Stryker by 3.9% during the fourth quarter. Czech National Bank now owns 90,755 shares of the medical technology company's stock worth $31,898,000 after purchasing an additional 3,366 shares during the period. Davis R M Inc. increased its holdings in shares of Stryker by 1.8% during the third quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company's stock worth $51,285,000 after purchasing an additional 2,512 shares during the period. Terra Alpha Investments LLC bought a new position in shares of Stryker during the third quarter worth approximately $1,216,000. Kepler Cheuvreux Suisse SA bought a new position in shares of Stryker during the third quarter worth approximately $27,952,000. Finally, Diversified Trust Co increased its holdings in shares of Stryker by 45.6% during the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company's stock worth $4,601,000 after purchasing an additional 3,899 shares during the period. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm'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 value 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 trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.60% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE:SYK opened at $327.84 on Friday. The company's 50 day simple moving average is $349.77 and its 200 day simple moving average is $358.26. The stock has a market capitalization of $125.56 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. 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 1 year low of $319.32 and a 1 year high of $404.87.

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 analysts' consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.01 earnings per share. As a group, research analysts predict that Stryker Corporation will post 14.92 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given 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 dividend payout ratio (DPR) is currently 41.90%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. William Blair reiterated an "outperform" rating on shares of Stryker in a research report on Thursday, March 5th. Leerink Partners started coverage on shares of Stryker in a research note on Monday, April 13th. They issued an "outperform" rating and a $410.00 price objective on the stock. Finally, Truist Financial decreased their price objective on shares of Stryker from $395.00 to $380.00 and set a "hold" rating on the stock in a research note on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $421.11.

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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