Russell Investments Group Ltd. Has $45.96 Million Stock Position in Stryker Co. (NYSE:SYK)

Russell Investments Group Ltd. increased its holdings in shares of Stryker Co. (NYSE:SYKGet Rating) by 139.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,880 shares of the medical technology company’s stock after purchasing an additional 132,185 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Stryker worth $45,959,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Lincoln National Corp grew its stake in Stryker by 8.8% during the third quarter. Lincoln National Corp now owns 6,166 shares of the medical technology company’s stock worth $1,249,000 after purchasing an additional 498 shares during the period. Grandfield & Dodd LLC boosted its holdings in Stryker by 1.2% in the third quarter. Grandfield & Dodd LLC now owns 102,420 shares of the medical technology company’s stock worth $20,740,000 after acquiring an additional 1,201 shares in the last quarter. Cypress Capital Management LLC boosted its holdings in Stryker by 20.7% in the third quarter. Cypress Capital Management LLC now owns 1,539 shares of the medical technology company’s stock worth $312,000 after acquiring an additional 264 shares in the last quarter. AMG National Trust Bank boosted its holdings in Stryker by 18.0% in the third quarter. AMG National Trust Bank now owns 18,650 shares of the medical technology company’s stock worth $3,778,000 after acquiring an additional 2,851 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in Stryker by 5.3% in the third quarter. First Republic Investment Management Inc. now owns 122,116 shares of the medical technology company’s stock worth $24,733,000 after acquiring an additional 6,154 shares in the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SYK shares. BTIG Research increased their price target on Stryker from $232.00 to $268.00 in a report on Wednesday, December 21st. Truist Financial raised their target price on Stryker from $230.00 to $252.00 and gave the company a “hold” rating in a report on Tuesday, December 20th. Morgan Stanley raised their target price on Stryker from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Friday, January 6th. Jefferies Financial Group began coverage on Stryker in a report on Wednesday, October 12th. They issued a “buy” rating and a $270.00 target price on the stock. Finally, Royal Bank of Canada upgraded Stryker from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $240.00 to $284.00 in a report on Monday, January 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.68.

Insider Activity

In other news, Director Srikant M. Datar sold 600 shares of Stryker stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $216.71, for a total value of $130,026.00. Following the completion of the transaction, the director now directly owns 5,161 shares in the company, valued at $1,118,440.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Srikant M. Datar sold 600 shares of Stryker stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $216.71, for a total transaction of $130,026.00. Following the completion of the sale, the director now owns 5,161 shares of the company’s stock, valued at $1,118,440.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Srikant M. Datar sold 300 shares of Stryker stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.36, for a total value of $63,708.00. Following the sale, the director now directly owns 4,861 shares of the company’s stock, valued at approximately $1,032,281.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,079 shares of company stock worth $19,354,832. 6.50% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE:SYK opened at $255.75 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.04 and a quick ratio of 1.19. The business has a fifty day simple moving average of $243.85 and a two-hundred day simple moving average of $223.70. Stryker Co. has a 1 year low of $188.84 and a 1 year high of $279.28. The company has a market capitalization of $96.78 billion, a P/E ratio of 39.77, a P/E/G ratio of 2.87 and a beta of 0.94.

Stryker (NYSE:SYKGet Rating) last released its earnings results on Monday, October 31st. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.12). The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Stryker had a return on equity of 22.27% and a net margin of 13.69%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. On average, analysts expect that Stryker Co. will post 9.17 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This is a boost from Stryker’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Stryker’s payout ratio is 46.66%.

Stryker Profile

(Get Rating)

Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.

Featured Articles

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYKGet Rating).

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.