LGT Capital Partners LTD. Buys 85,240 Shares of Stryker Co. (NYSE:SYK)

LGT Capital Partners LTD. boosted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 434,997 shares of the medical technology company's stock after purchasing an additional 85,240 shares during the quarter. Stryker makes up 3.9% of LGT Capital Partners LTD.'s portfolio, making the stock its 7th biggest holding. LGT Capital Partners LTD. owned approximately 0.11% of Stryker worth $130,264,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ocean Capital Management LLC increased its stake in Stryker by 10.7% during the fourth quarter. Ocean Capital Management LLC now owns 12,083 shares of the medical technology company's stock worth $3,618,000 after acquiring an additional 1,163 shares during the last quarter. AMI Investment Management Inc. increased its stake in Stryker by 1.8% during the fourth quarter. AMI Investment Management Inc. now owns 7,051 shares of the medical technology company's stock worth $2,112,000 after acquiring an additional 127 shares during the last quarter. Trueblood Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth about $626,000. Good Life Advisors LLC acquired a new stake in Stryker during the fourth quarter worth about $628,000. Finally, Great Lakes Retirement Inc. increased its stake in Stryker by 3.3% during the fourth quarter. Great Lakes Retirement Inc. now owns 4,172 shares of the medical technology company's stock worth $1,249,000 after acquiring an additional 135 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly 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 can be accessed through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly 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 can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.2 %

NYSE SYK traded down $0.84 on Friday, hitting $357.87. 1,074,753 shares of the stock traded hands, compared to its average volume of 1,130,776. The stock has a 50-day moving average of $344.28 and a 200 day moving average of $305.97. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market capitalization of $136.16 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89. 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 (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.60 billion. During the same quarter in the prior year, the firm posted $3.00 earnings per share. Stryker's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup upped their target price on Stryker from $340.00 to $362.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and upped their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Roth Mkm upped their target price on Stryker from $345.00 to $348.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Truist Financial upped their target price on Stryker from $330.00 to $345.00 and gave the stock a "hold" rating in a research report on Wednesday, January 31st. Finally, Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $331.52.

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.