Petros Family Wealth LLC Acquires New Shares in Stryker Co. (NYSE:SYK)

Petros Family Wealth LLC bought a new stake in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,413 shares of the medical technology company's stock, valued at approximately $1,589,000. Stryker makes up approximately 1.7% of Petros Family Wealth LLC's holdings, making the stock its 13th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after purchasing an additional 252,188 shares in the last quarter. FMR LLC boosted its stake in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Norges Bank acquired a new position in shares of Stryker in the fourth quarter valued at approximately $1,710,744,000. Finally, Invesco Ltd. lifted its stake in shares of Stryker by 15.3% during the fourth quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after buying an additional 266,587 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

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Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on 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 transaction, the director now owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. The trade was 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 Stock Down 1.9 %

Shares of SYK stock traded down $6.54 on Tuesday, hitting $346.88. The stock had a trading volume of 1,670,378 shares, compared to its average volume of 1,361,566. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market capitalization of $132.40 billion, a price-to-earnings 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 50 day moving average is $374.63 and its 200-day moving average is $373.58.

Stryker (NYSE:SYK - Get Free Report) last announced its 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 quarter in the prior year, the firm earned $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.97%. Stryker's dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. StockNews.com lowered Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Truist Financial upped 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. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a report on Tuesday, March 4th. Finally, Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $423.05.

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.