Scotia Capital Inc. Increases Stake in Stryker Co. (NYSE:SYK)

Scotia Capital Inc. boosted its position in Stryker Co. (NYSE:SYK) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,459 shares of the medical technology company’s stock after acquiring an additional 9,089 shares during the quarter. Scotia Capital Inc.’s holdings in Stryker were worth $34,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. F M Investments LLC lifted its holdings in Stryker by 17.7% during the fourth quarter. F M Investments LLC now owns 27,801 shares of the medical technology company’s stock valued at $10,010,000 after purchasing an additional 4,188 shares in the last quarter. DRW Securities LLC purchased a new position in Stryker during the fourth quarter valued at approximately $256,000. APG Asset Management US Inc. purchased a new stake in Stryker during the 4th quarter worth approximately $2,552,000. Azimuth Capital Investment Management LLC boosted its holdings in Stryker by 1.0% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 95,402 shares of the medical technology company’s stock valued at $34,350,000 after purchasing an additional 927 shares during the last quarter. Finally, Faithward Advisors LLC boosted its stake in shares of Stryker by 13.1% in the fourth quarter. Faithward Advisors LLC now owns 1,795 shares of the medical technology company’s stock valued at $646,000 after purchasing an additional 208 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the director now directly owns 14,895 shares of the company’s stock, 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.

Analyst Ratings Changes

Several research analysts recently issued reports on SYK shares. Barclays lifted their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Argus set a $450.00 price objective on shares of Stryker in a report on Monday, February 3rd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Finally, Truist Financial increased their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Stock Up 7.7 %

Shares of NYSE:SYK opened at $363.44 on Thursday. The firm has a market capitalization of $138.72 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The firm’s 50-day moving average is $377.27 and its two-hundred day moving average is $373.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its 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 return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed 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 is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio is currently 43.30%.

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.