Professional Advisory Services Inc. Has $21.34 Million Stake in Stryker Co. (NYSE:SYK)

Professional Advisory Services Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,258 shares of the medical technology company’s stock after selling 2,869 shares during the quarter. Stryker comprises 2.9% of Professional Advisory Services Inc.’s portfolio, making the stock its 14th biggest position. Professional Advisory Services Inc.’s holdings in Stryker were worth $21,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in Stryker in the second quarter valued at about $369,000. Ieq Capital LLC lifted its holdings in shares of Stryker by 6.0% during the 2nd quarter. Ieq Capital LLC now owns 34,960 shares of the medical technology company’s stock valued at $11,895,000 after purchasing an additional 1,983 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Stryker by 0.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 133,846 shares of the medical technology company’s stock valued at $45,541,000 after purchasing an additional 557 shares during the period. Canada Pension Plan Investment Board increased its stake in Stryker by 49.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after purchasing an additional 228,139 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in Stryker by 335.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 66,628 shares of the medical technology company’s stock worth $22,670,000 after buying an additional 51,327 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by company insiders.

Stryker Trading Up 0.6 %

Stryker stock opened at $383.91 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 stock has a 50-day simple moving average of $375.35 and a 200 day simple moving average of $358.48. The stock has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYK. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Finally, Truist Financial boosted their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.