Modern Wealth Management LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Modern Wealth Management LLC grew its stake in Stryker Co. (NYSE:SYK - Free Report) by 197.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,845 shares of the medical technology company's stock after purchasing an additional 1,889 shares during the period. Modern Wealth Management LLC's holdings in Stryker were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Swedbank AB boosted its position in Stryker by 10.9% during the third quarter. Swedbank AB now owns 51,070 shares of the medical technology company's stock worth $18,450,000 after purchasing an additional 5,032 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Stryker during the 3rd quarter valued at approximately $317,000. Avestar Capital LLC grew its stake in Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock valued at $1,065,000 after acquiring an additional 31 shares during the period. Townsquare Capital LLC increased its holdings in Stryker by 11.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company's stock worth $2,698,000 after acquiring an additional 792 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Stryker by 162.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,283 shares of the medical technology company's stock worth $52,124,000 after acquiring an additional 89,283 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

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Stryker Trading Down 0.9 %

Shares of Stryker stock traded down $3.16 on Friday, reaching $364.38. The company had a trading volume of 1,274,307 shares, compared to its average volume of 1,289,456. 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 firm has a market cap of $139.08 billion, a PE ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. The firm's 50 day moving average price is $384.08 and its two-hundred day moving average price is $374.32. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the business earned $3.46 EPS. Sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker's dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Canaccord Genuity Group increased their target price on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Morgan Stanley raised Stryker from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Royal Bank of Canada raised their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Finally, Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus price target of $421.90.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred 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 transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the 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 completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

About Stryker

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.