Jackson Square Capital LLC Has $2.87 Million Stake in Stryker Co. (NYSE:SYK)

Jackson Square Capital LLC trimmed its position in shares of Stryker Co. (NYSE:SYK) by 12.6% in the fourth quarter, Holdings Channel reports. The fund owned 7,964 shares of the medical technology company’s stock after selling 1,143 shares during the quarter. Jackson Square Capital LLC’s holdings in Stryker were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC grew its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter worth $36,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth $42,000. Finally, Hara Capital LLC acquired a new position in Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SYK. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Up 0.6 %

NYSE SYK opened at $383.91 on Friday. The stock’s 50 day simple moving average is $375.51 and its 200 day simple moving average is $358.81. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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.