Raymond James Financial Inc. Invests $353.39 Million in Stryker Co. (NYSE:SYK)

Raymond James Financial Inc. acquired a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 981,513 shares of the medical technology company's stock, valued at approximately $353,394,000. Raymond James Financial Inc. owned 0.26% of Stryker at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at $25,000. Dunhill Financial LLC boosted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after buying an additional 37 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker in the 4th quarter valued at $30,000. BankPlus Trust Department acquired a new stake in Stryker in the 4th quarter valued at $33,000. Finally, Darwin Wealth Management LLC acquired a new stake in Stryker in the 3rd quarter valued at $36,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction dated 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 sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated 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 sale, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This trade 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 currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on SYK. Wells Fargo & Company boosted their price target on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Truist Financial boosted their price objective on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus target price of $422.15.

Stryker Trading Down 0.8 %

Shares of SYK traded down $3.03 during trading hours on Friday, hitting $379.28. 1,961,830 shares of the stock traded hands, compared to its average volume of 1,209,637. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a market capitalization of $144.73 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The business has a fifty day moving average of $382.45 and a 200-day moving average of $373.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm earned $3.46 earnings per share. Analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker's dividend payout ratio is presently 43.30%.

Stryker Company 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.