Focus Partners Wealth Acquires 8,906 Shares of Stryker Co. (NYSE:SYK)

Focus Partners Wealth lifted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,989 shares of the medical technology company's stock after buying an additional 8,906 shares during the period. Focus Partners Wealth's holdings in Stryker were worth $46,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Fullerton Fund Management Co Ltd. boosted its position in Stryker by 34.9% during the fourth quarter. Fullerton Fund Management Co Ltd. now owns 5,309 shares of the medical technology company's stock valued at $1,912,000 after purchasing an additional 1,374 shares during the last quarter. Elefante Mark B bought a new position in shares of Stryker in the fourth quarter worth about $337,000. Ethic Inc. increased its stake in shares of Stryker by 17.0% in the fourth quarter. Ethic Inc. now owns 43,361 shares of the medical technology company's stock worth $15,612,000 after purchasing an additional 6,307 shares during the period. Fiduciary Trust Co increased its stake in Stryker by 2.6% during the fourth quarter. Fiduciary Trust Co now owns 32,415 shares of the medical technology company's stock valued at $11,671,000 after acquiring an additional 813 shares during the period. Finally, Fred Alger Management LLC increased its stake in Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock valued at $8,664,000 after acquiring an additional 19,356 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on 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 $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE SYK traded down $1.11 during trading hours on Wednesday, hitting $386.42. 1,107,731 shares of the stock were exchanged, compared to its average volume of 1,350,615. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $147.49 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company's fifty day simple moving average is $365.43 and its two-hundred day simple moving average is $374.82. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker's payout ratio is 45.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Barclays upped their target price on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $427.05.

About Stryker

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.