North Forty Two & Co. Purchases Shares of 1,092 Stryker Co. (NYSE:SYK)

North Forty Two & Co. purchased a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,092 shares of the medical technology company’s stock, valued at approximately $393,000.

A number of other institutional investors have also made changes to their positions in SYK. GSA Capital Partners LLP acquired a new stake in shares of Stryker during the third quarter valued at about $362,000. Empowered Funds LLC grew its holdings in shares of Stryker by 6.5% in the third quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after purchasing an additional 399 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Stryker by 6.9% in the third quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock valued at $33,683,000 after purchasing an additional 5,995 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Stryker by 10.3% in the third quarter. Drive Wealth Management LLC now owns 720 shares of the medical technology company’s stock valued at $261,000 after purchasing an additional 67 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Stryker by 2.8% in the third quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company’s stock valued at $3,118,000 after purchasing an additional 234 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.7 %

SYK stock opened at $376.13 on Wednesday. The company has a fifty day moving average price of $383.71 and a 200 day moving average price of $373.82. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market cap of $143.52 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 business posted $3.46 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYK shares. Citigroup restated a “buy” rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Barclays lifted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by 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.