Stryker Co. (NYSE:SYK) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,391 shares of the medical technology company's stock after buying an additional 4,431 shares during the quarter. Pacer Advisors Inc.'s holdings in Stryker were worth $8,203,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stryker in the 4th quarter valued at $776,333,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Stryker by 109,726.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company's stock valued at $767,686,000 after purchasing an additional 3,137,089 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company's stock valued at $555,482,000 after purchasing an additional 2,075,371 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Stryker in the 4th quarter valued at $312,539,000. Finally, Morgan Stanley raised its holdings in shares of Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company's stock valued at $1,461,753,000 after purchasing an additional 1,066,751 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE:SYK traded down $0.84 during midday trading on Thursday, hitting $357.87. The stock had a trading volume of 1,067,122 shares, compared to its average volume of 1,324,327. The company has a market capitalization of $135.97 billion, a PE ratio of 43.38, a P/E/G ratio of 2.86 and a beta of 0.89. The stock has a 50 day moving average price of $343.42 and a two-hundred day moving average price of $305.60. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 earnings per share. As a group, equities analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio (DPR) is 38.79%.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 3,273 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company's stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYK shares. Morgan Stanley raised their price objective on shares of Stryker from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, December 4th. StockNews.com raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Tuesday, January 23rd. Wells Fargo & Company increased their target price on shares of Stryker from $336.00 to $364.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. Truist Financial increased their target price on shares of Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a research report on Wednesday, January 31st. Finally, Canaccord Genuity Group raised shares of Stryker from a "hold" rating to a "buy" rating and increased their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $331.52.

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.