Impax Asset Management Group plc Has $2.16 Million Position in Stryker Co. (NYSE:SYK)

Impax Asset Management Group plc cut its holdings in shares of Stryker Co. (NYSE:SYK) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 5,984 shares of the medical technology company’s stock after selling 638 shares during the quarter. Impax Asset Management Group plc’s holdings in Stryker were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Capital LLC boosted its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC boosted its stake in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the period. Appleton Partners Inc. MA boosted its stake in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd bought a new stake in Stryker in the 4th quarter valued at $587,000. Finally, Berkshire Bank boosted its stake in Stryker by 13.8% in the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after purchasing an additional 1,030 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group upped their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Price Performance

Shares of SYK opened at $390.57 on Wednesday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business has a 50-day simple moving average of $378.78 and a two-hundred day simple moving average of $370.22. 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 stock has a market cap of $149.03 billion, a PE ratio of 50.33, a PEG ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm posted $3.46 earnings per share. Analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker’s payout ratio is presently 43.30%.

Insiders Place Their Bets

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

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.