Sycomore Asset Management Purchases 4,642 Shares of Stryker Co. (NYSE:SYK)

Sycomore Asset Management raised its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 446.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,681 shares of the medical technology company's stock after acquiring an additional 4,642 shares during the period. Sycomore Asset Management's holdings in Stryker were worth $1,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SYK. Bremer Bank National Association raised its holdings in shares of Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company's stock worth $266,000 after acquiring an additional 34 shares during the period. Simon Quick Advisors LLC raised its holdings in Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company's stock valued at $347,000 after buying an additional 34 shares during the period. Consolidated Portfolio Review Corp raised its holdings in Stryker by 3.6% in the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company's stock valued at $294,000 after buying an additional 34 shares during the period. MBL Wealth LLC raised its holdings in Stryker by 4.6% in the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company's stock valued at $255,000 after buying an additional 37 shares during the period. Finally, PDS Planning Inc raised its holdings in Stryker by 3.0% in the 3rd quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company's stock valued at $360,000 after buying an additional 38 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 completion of the sale, the director now directly owns 3,755,128 shares of the company's stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company's stock, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company's stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Up 0.6 %

Shares of Stryker stock traded up $1.94 on Wednesday, reaching $336.85. 1,478,179 shares of the company were exchanged, compared to its average volume of 1,282,265. The company has a market cap of $128.16 billion, a P/E ratio of 40.83, a price-to-earnings-growth ratio of 2.64 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The stock's 50 day moving average price is $349.39 and its 200-day moving average price is $314.24.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm's revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.00 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker's payout ratio is currently 38.79%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial boosted their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a report on Wednesday, January 31st. StockNews.com raised Stryker from a "hold" rating to a "buy" rating in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the company an "outperform" rating in a research report on Monday, April 15th. TD Cowen lifted their target price on Stryker from $365.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, April 11th. Finally, Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $340.67.

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.

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