First Horizon Advisors Inc. Acquires 61 Shares of Stryker Co. (NYSE:SYK)

First Horizon Advisors Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,146 shares of the medical technology company’s stock after purchasing an additional 61 shares during the quarter. First Horizon Advisors Inc.’s holdings in Stryker were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC grew its stake in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker in the 3rd quarter worth $762,798,000. Finally, Janus Henderson Group PLC grew its stake in shares of Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SYK shares. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Truist Financial increased their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $422.15.

Stryker Trading Up 1.4 %

Shares of Stryker stock opened at $388.11 on Tuesday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market cap of $148.09 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $378.38 and its 200-day moving average price is $369.78.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the business earned $3.46 EPS. On average, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s 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 $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.