AssuredPartners Investment Advisors LLC Buys Shares of 1,130 Stryker Co. (NYSE:SYK)

AssuredPartners Investment Advisors LLC purchased a new position in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, Holdings Channel.com reports. The fund purchased 1,130 shares of the medical technology company’s stock, valued at approximately $407,000.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Vanguard Group Inc. grew its stake in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after buying an additional 252,188 shares during the last quarter. State Street Corp grew its position in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. Geode Capital Management LLC raised its position in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Stryker by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after purchasing an additional 48,819 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.9 %

Shares of NYSE SYK opened at $364.38 on Friday. The stock has a market capitalization of $139.08 billion, a P/E ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. 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 one year low of $314.93 and a one year high of $406.19. The firm’s 50 day simple moving average is $384.08 and its two-hundred day simple moving average is $374.25.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business earned $3.46 earnings per share. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s dividend payout ratio is presently 43.30%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Finally, Citigroup reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

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.