US Asset Management LLC Makes New $600,000 Investment in Stryker Co. (NYSE:SYK)

US Asset Management LLC purchased a new stake in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,003 shares of the medical technology company’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. Rogco LP acquired a new stake in shares of Stryker during the 4th quarter worth $30,000. HBC Financial Services PLLC acquired a new stake in shares of Stryker during the 4th quarter worth $37,000. Bourgeon Capital Management LLC bought a new position in shares of Stryker in the fourth quarter worth $37,000. Finally, Operose Advisors LLC raised its stake in Stryker by 308.6% in the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Roth Mkm lifted their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird boosted their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Stock Down 0.1 %

Stryker stock traded down $0.23 during midday trading on Friday, reaching $330.63. The stock had a trading volume of 392,959 shares, compared to its average volume of 1,316,786. The company has a fifty day moving average price of $345.24 and a two-hundred day moving average price of $318.99. The company has a market capitalization of $125.95 billion, a P/E ratio of 37.78, a PEG ratio of 2.54 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is presently 36.53%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

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.