Nearwater Capital Markets Ltd Buys New Stake in Stryker Co. (NYSE:SYK)

Nearwater Capital Markets Ltd acquired a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,830 shares of the medical technology company's stock, valued at approximately $36,304,000. Stryker makes up 1.0% of Nearwater Capital Markets Ltd's investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter valued at about $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the 4th quarter valued at about $33,000. Finally, Activest Wealth Management bought a new position in shares of Stryker in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SYK shares. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $427.05.

Insider Activity

In other news, 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 sale, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Up 0.5%

NYSE SYK traded up $2.04 on Friday, hitting $394.24. The stock had a trading volume of 1,113,972 shares, compared to its average volume of 1,346,938. The business's fifty day moving average price is $366.62 and its 200 day moving average price is $375.39. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market cap of $150.48 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. Equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Stryker 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.