Legacy Trust Raises Stock Holdings in Stryker Corporation $SYK

Legacy Trust grew its stake in shares of Stryker Corporation (NYSE:SYK) by 13.1% during the third quarter, HoldingsChannel.com reports. The fund owned 21,199 shares of the medical technology company’s stock after buying an additional 2,448 shares during the quarter. Stryker accounts for about 1.5% of Legacy Trust’s portfolio, making the stock its 20th biggest position. Legacy Trust’s holdings in Stryker were worth $7,837,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the period. Empowered Funds LLC increased its holdings in Stryker by 13.5% in the 1st quarter. Empowered Funds LLC now owns 8,678 shares of the medical technology company’s stock worth $3,230,000 after acquiring an additional 1,034 shares in the last quarter. Intech Investment Management LLC increased its holdings in Stryker by 59.0% in the 1st quarter. Intech Investment Management LLC now owns 5,500 shares of the medical technology company’s stock worth $2,047,000 after acquiring an additional 2,040 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Stryker by 2.0% during the 1st quarter. Belpointe Asset Management LLC now owns 1,694 shares of the medical technology company’s stock worth $631,000 after acquiring an additional 33 shares during the period. Finally, Modern Wealth Management LLC lifted its holdings in Stryker by 11.4% during the first quarter. Modern Wealth Management LLC now owns 3,117 shares of the medical technology company’s stock valued at $1,160,000 after purchasing an additional 319 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Stryker stock opened at $367.75 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $359.91 and its 200-day moving average price is $375.08. The company has a market cap of $140.64 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.87 EPS. On average, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.88 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is currently 46.25%.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock worth $185,381,932 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a research note on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a report on Friday, December 19th. Finally, Rothschild & Co Redburn initiated coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $430.00.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.