Artemis Investment Management LLP Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Artemis Investment Management LLP boosted its holdings in Stryker Co. (NYSE:SYK) by 58.4% during the 4th quarter, Holdings Channel reports. The firm owned 167,003 shares of the medical technology company’s stock after acquiring an additional 61,568 shares during the period. Artemis Investment Management LLP’s holdings in Stryker were worth $60,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SYK. State Street Corp boosted its holdings in shares of Stryker by 2.2% in 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 buying an additional 316,404 shares during the last quarter. FMR LLC boosted its stake in Stryker by 3.0% in 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 grew its position in shares of Stryker by 2.5% during the 3rd 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 period. Clearbridge Investments LLC increased its stake in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $762,798,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, 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 at this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $383.91 on Friday. The business has a 50 day moving average of $375.51 and a 200 day moving average of $358.81. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a market cap of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 EPS. As a group, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price 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.