Clarendon Private LLC Purchases New Shares in Stryker Co. (NYSE:SYK)

Clarendon Private LLC acquired a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,882 shares of the medical technology company’s stock, valued at approximately $677,000.

Other hedge funds have also modified their holdings of the company. Parnassus Investments LLC acquired a new stake in Stryker in the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC grew its stake in 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 valued at $308,433,000 after acquiring an additional 852,496 shares during the period. RTW Investments LP purchased a new stake in Stryker in the 3rd quarter worth $143,392,000. State Street Corp raised its position in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. Finally, FMR LLC lifted its holdings in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $394.08 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $150.23 billion, a P/E ratio of 42.24, a P/E/G ratio of 2.68 and a beta of 0.95. The firm’s 50 day moving average price is $376.11 and its 200-day moving average price is $360.81. Stryker Co. has a one year low of $307.23 and a one year high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Citigroup upped their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial raised their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.