Cullen Frost Bankers Inc. Grows Position in Stryker Co. (NYSE:SYK)

Cullen Frost Bankers Inc. boosted its holdings in Stryker Co. (NYSE:SYK) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,716 shares of the medical technology company’s stock after acquiring an additional 1,728 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Stryker were worth $21,861,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC boosted its stake in shares of 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 acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Stryker in the 3rd quarter worth about $762,798,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Stryker by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after buying an additional 48,819 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial raised their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Stifel Nicolaus raised their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup restated a “buy” rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

Stryker Price Performance

SYK stock opened at $396.10 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock’s 50 day moving average is $381.96 and its two-hundred day moving average is $372.45. The company has a market capitalization of $151.14 billion, a PE ratio of 51.04, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 in the prior year, the firm posted $3.46 EPS. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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 dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s dividend payout ratio is presently 43.30%.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of Stryker 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 transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

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.