Federated Hermes Inc. Acquires 4,470 Shares of Stryker Co. (NYSE:SYK)

Federated Hermes Inc. grew its holdings in Stryker Co. (NYSE:SYK - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,515 shares of the medical technology company's stock after purchasing an additional 4,470 shares during the period. Federated Hermes Inc.'s holdings in Stryker were worth $42,671,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in Stryker in the 4th quarter worth approximately $1,710,744,000. Raymond James Financial Inc. acquired a new position in shares of Stryker in the fourth quarter worth $353,394,000. Proficio Capital Partners LLC raised its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after acquiring an additional 595,061 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Stryker by 69.6% during the fourth quarter. National Bank of Canada FI now owns 431,259 shares of the medical technology company's stock valued at $155,277,000 after purchasing an additional 177,033 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other Stryker news, 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 value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

SYK has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Stifel Nicolaus raised their price objective on shares of Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Citigroup reissued a "buy" rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Argus set a $450.00 price target on shares of Stryker in a research note on Monday, February 3rd. Finally, 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 research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $423.05.

Stryker Stock Performance

SYK stock traded up $1.63 on Friday, reaching $350.02. 1,767,159 shares of the company were exchanged, compared to its average volume of 1,359,415. 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 Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock's fifty day moving average price is $375.54 and its 200 day moving average price is $373.63. The firm has a market capitalization of $133.60 billion, a PE ratio of 45.11, a PEG ratio of 2.93 and a beta of 0.93.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, March 31st. Stryker's dividend payout ratio is presently 43.30%.

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.