AlTi Global Inc. Increases Stock Holdings in Stryker Co. (NYSE:SYK)

AlTi Global Inc. boosted its stake in shares of Stryker Co. (NYSE:SYK) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,538 shares of the medical technology company’s stock after buying an additional 101 shares during the period. AlTi Global Inc.’s holdings in Stryker were worth $558,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Stryker during the 4th quarter valued at about $1,710,744,000. Raymond James Financial Inc. bought a new position in shares of Stryker during the fourth quarter valued at approximately $353,394,000. FMR LLC raised its holdings in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after buying an additional 727,850 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after acquiring an additional 595,061 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock valued at $1,298,426,000 after acquiring an additional 420,153 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Barclays raised their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.53.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

SYK opened at $378.60 on Friday. The company has a market cap of $144.51 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $366.38 and its 200-day moving average price is $373.82. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, March 31st. Stryker’s dividend payout ratio is presently 45.41%.

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.