NEOS Investment Management LLC Increases Stock Position in Stryker Co. (NYSE:SYK)

NEOS Investment Management LLC raised its holdings in Stryker Co. (NYSE:SYK - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,361 shares of the medical technology company's stock after buying an additional 4,619 shares during the quarter. NEOS Investment Management LLC's holdings in Stryker were worth $7,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Capital LLC grew its holdings in Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock worth $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC boosted its position in shares of Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA grew its stake in shares of Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after buying an additional 1,400 shares during the period. Metis Global Partners LLC increased its position in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after buying an additional 1,561 shares in the last quarter. Finally, US Bancorp DE lifted its position in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after acquiring an additional 976 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred 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 transaction, the director now directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of SYK traded down $3.16 during mid-day trading on Friday, reaching $364.38. 1,274,307 shares of the stock traded hands, compared to its average volume of 1,289,456. The company has a market cap of $139.08 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a fifty day moving average price of $384.08 and a 200 day moving average price of $374.32. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results 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 return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 EPS. As a group, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Truist Financial raised their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an "overweight" 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's stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $421.90.

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.