Jones Financial Companies Lllp Buys 10,767 Shares of Stryker Corporation $SYK

Jones Financial Companies Lllp raised its position in shares of Stryker Corporation (NYSE:SYK) by 20.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 62,596 shares of the medical technology company’s stock after acquiring an additional 10,767 shares during the period. Jones Financial Companies Lllp’s holdings in Stryker were worth $23,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Terra Alpha Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $1,216,000. Diversified Trust Co lifted its position in Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares in the last quarter. SVB Wealth LLC purchased a new stake in Stryker during the 2nd quarter valued at $4,785,000. AXQ Capital LP bought a new stake in shares of Stryker in the 2nd quarter worth $567,000. Finally, National Pension Service increased its holdings in shares of Stryker by 2.4% in the 3rd quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock worth $252,805,000 after purchasing an additional 16,254 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $360.72 on Wednesday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The firm has a market capitalization of $137.95 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $359.07 and a 200 day moving average of $371.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter last year, the company posted $4.01 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Stryker’s dividend payout ratio is presently 41.90%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a research report on Monday, January 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, BTIG Research increased their price objective on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.56.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,291 shares of company stock worth $98,340,570 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.