Advisors Capital Management LLC Has $20.97 Million Holdings in Stryker Co. (NYSE:SYK)

Advisors Capital Management LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,237 shares of the medical technology company's stock after buying an additional 1,230 shares during the period. Advisors Capital Management LLC's holdings in Stryker were worth $20,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth $25,000. Rakuten Securities Inc. grew its position in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Stryker during the 4th quarter valued at about $30,000. BankPlus Trust Department bought a new stake in shares of Stryker during the 4th quarter worth about $33,000. Finally, Activest Wealth Management acquired a new stake in shares of Stryker in the 4th quarter worth approximately $36,000. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company's 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 transaction, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 sale, the director now owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This represents a 5.24 % 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 company insiders.

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Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Truist Financial boosted their target price on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Stifel Nicolaus boosted their price objective on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. Finally, Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $423.05.

Stryker Stock Down 1.9 %

NYSE:SYK traded down $6.54 during trading hours on Tuesday, hitting $346.88. 1,670,378 shares of the company's stock traded hands, compared to its average volume of 1,361,566. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a market cap of $132.40 billion, a P/E ratio of 44.70, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock's fifty day moving average price is $373.64 and its two-hundred day moving average price is $373.40.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 business posted $3.46 EPS. On average, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio is currently 43.30%.

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.