Rempart Asset Management Inc. Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Rempart Asset Management Inc. increased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,496 shares of the medical technology company's stock after acquiring an additional 2,351 shares during the period. Stryker comprises 3.5% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 19th biggest position. Rempart Asset Management Inc.'s holdings in Stryker were worth $17,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bath Savings Trust Co boosted its stake in shares of Stryker by 0.7% in the fourth quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company's stock valued at $40,834,000 after purchasing an additional 823 shares during the period. Regent Peak Wealth Advisors LLC purchased a new position in Stryker in the 4th quarter valued at approximately $204,000. CWA Asset Management Group LLC grew its stake in shares of Stryker by 3.5% in the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company's stock worth $1,388,000 after acquiring an additional 131 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Stryker by 15.8% in the fourth quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company's stock worth $350,485,000 after acquiring an additional 132,513 shares in the last quarter. Finally, Everence Capital Management Inc. increased its position in shares of Stryker by 21.4% during the fourth quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company's stock worth $3,446,000 after acquiring an additional 1,690 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research note on Wednesday, January 1st. Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Finally, Piper Sandler restated an "overweight" rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $405.80.

Stryker Stock Performance

Stryker stock traded up $9.01 during mid-day trading on Wednesday, reaching $364.19. 1,534,680 shares of the company were exchanged, compared to its average volume of 1,279,956. The firm has a market cap of $138.84 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm's 50-day simple moving average is $375.25 and its two-hundred day simple moving average is $357.42. Stryker Co. has a twelve month low of $298.52 and a twelve month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the firm posted $2.46 EPS. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a boost from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker's payout ratio is presently 36.01%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company's stock.

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.