LGT Capital Partners LTD. Increases Stock Holdings in Stryker Corporation $SYK

LGT Capital Partners LTD. raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 205,769 shares of the medical technology company’s stock after purchasing an additional 3,273 shares during the quarter. Stryker accounts for approximately 3.7% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 9th largest holding. LGT Capital Partners LTD.’s holdings in Stryker were worth $76,067,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Kovack Advisors Inc. lifted its holdings in Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after buying an additional 27 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in shares of Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 27 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 28 shares during the period. Finally, Wolff Wiese Magana LLC grew its stake in Stryker by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 28 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYK. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Robert W. Baird set a $437.00 target price on shares of Stryker in a report on Friday, January 30th. Finally, William Blair began coverage on shares of Stryker in a research report on Friday. They set an “outperform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Stryker Stock Up 1.2%

NYSE:SYK opened at $384.82 on Tuesday. The company’s 50-day simple moving average is $360.63 and its 200-day simple moving average is $368.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The stock has a market capitalization of $147.27 billion, a P/E ratio of 45.81, a P/E/G ratio of 2.22 and a beta of 0.87.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Stryker 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.