Johnson Investment Counsel Inc. Raises Stake in Stryker Co. (NYSE:SYK)

Johnson Investment Counsel Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 176,956 shares of the medical technology company's stock after acquiring an additional 10,856 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Stryker were worth $63,713,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SYK. Parnassus Investments LLC bought a new position in Stryker during the third quarter worth about $762,798,000. Raymond James Financial Inc. bought a new position in Stryker in the 4th quarter valued at about $353,394,000. Proficio Capital Partners LLC increased its holdings in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after buying an additional 595,061 shares during the period. RTW Investments LP bought a new position in Stryker in the 3rd quarter valued at about $143,392,000. Finally, State Street Corp increased its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after buying an additional 316,404 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

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Stryker Trading Down 0.5 %

Shares of NYSE SYK traded down $1.77 during midday trading on Wednesday, reaching $363.52. The stock had a trading volume of 1,559,119 shares, compared to its average volume of 1,218,441. The firm has a market cap of $138.71 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. 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 company's 50 day moving average price is $382.76 and its 200 day moving average price is $373.33.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 last year, the company posted $3.46 earnings per share. As a group, sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. 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 0.92%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $421.90.

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.