Suncoast Equity Management Has $43.91 Million Holdings in Stryker Co. (NYSE:SYK)

Suncoast Equity Management lifted its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,950 shares of the medical technology company’s stock after purchasing an additional 1,696 shares during the quarter. Stryker comprises 4.9% of Suncoast Equity Management’s investment portfolio, making the stock its 9th biggest holding. Suncoast Equity Management’s holdings in Stryker were worth $43,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC raised its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new position in Stryker during the 3rd quarter valued at about $143,392,000. State Street Corp increased its holdings 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 purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred 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 completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $386.47 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market cap of $147.47 billion, a PE ratio of 49.80, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a fifty day moving average of $377.92 and a 200 day moving average of $368.21.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $3.46 earnings per share. As a group, research analysts predict that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed 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 0.87%. Stryker’s payout ratio is currently 43.30%.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Barclays increased their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group upped their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $420.68.

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.