Forum Financial Management LP Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Forum Financial Management LP lifted its stake in shares of Stryker Co. (NYSE:SYK) by 31.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,455 shares of the medical technology company’s stock after buying an additional 591 shares during the quarter. Forum Financial Management LP’s holdings in Stryker were worth $884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Norges Bank purchased a new position in shares of Stryker in the 4th quarter valued at $1,710,744,000. Raymond James Financial Inc. purchased a new position in Stryker in the fourth quarter valued at about $353,394,000. FMR LLC raised its holdings in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after buying an additional 595,061 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Stryker by 1,695.0% in the 4th quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company’s stock valued at $128,730,000 after buying an additional 349,601 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $346.46 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm’s 50 day simple moving average is $370.95 and its 200-day simple moving average is $373.16. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market capitalization of $132.24 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 previous year, the business earned $3.46 earnings per share. Analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research report on Tuesday, March 4th. Truist Financial boosted their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Wells Fargo & Company raised their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup restated a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $423.53.

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.