L. Roy Papp & Associates LLP Cuts Stock Position in Stryker Co. (NYSE:SYK)

L. Roy Papp & Associates LLP lowered its position in Stryker Co. (NYSE:SYK) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,282 shares of the medical technology company’s stock after selling 669 shares during the period. Stryker comprises approximately 2.6% of L. Roy Papp & Associates LLP’s holdings, making the stock its 12th largest position. L. Roy Papp & Associates LLP’s holdings in Stryker were worth $22,425,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC raised its position in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in shares of Stryker during the 3rd quarter worth $143,392,000. State Street Corp lifted 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 buying an additional 316,404 shares during the period. Finally, FMR LLC boosted its position 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 acquiring an additional 215,782 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYK shares. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

Stryker Stock Down 0.5 %

Shares of NYSE:SYK opened at $390.52 on Wednesday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $148.88 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company has a fifty day simple moving average of $377.28 and a 200 day simple moving average of $365.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company posted $3.46 earnings per share. On average, equities research analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.

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.