Point72 Asia Singapore Pte. Ltd. Purchases Shares of 5,098 Stryker Co. (NYSE:SYK)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,098 shares of the medical technology company’s stock, valued at approximately $1,836,000.

Several other institutional investors also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $30,000. BankPlus Trust Department bought a new stake in Stryker in the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management bought a new position in Stryker during the 4th quarter worth approximately $36,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction 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 Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Trading Down 0.3%

Shares of Stryker stock opened at $386.42 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a 50 day moving average price of $365.58 and a two-hundred day moving average price of $374.90. The stock has a market capitalization of $147.49 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for 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 firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 EPS. As a group, equities analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Wells Fargo & Company lifted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, BTIG Research set a $403.00 price objective on Stryker and gave the company a “buy” rating in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.05.

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.