Marco Investment Management LLC Acquires 242 Shares of Stryker Co. (NYSE:SYK)

Marco Investment Management LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,078 shares of the medical technology company’s stock after purchasing an additional 242 shares during the period. Stryker comprises about 1.7% of Marco Investment Management LLC’s portfolio, making the stock its 18th largest holding. Marco Investment Management LLC’s holdings in Stryker were worth $16,494,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SYK. Vanguard Group Inc. grew its position in shares of Stryker by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after acquiring an additional 143,631 shares during the period. FMR LLC grew its position in shares of Stryker by 2.5% in the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after acquiring an additional 144,208 shares during the period. Morgan Stanley grew its position in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the period. Northern Trust Corp lifted its stake in shares of Stryker by 3.9% during the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after buying an additional 131,590 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Stryker by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock worth $475,614,000 after buying an additional 40,736 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE:SYK traded down $1.54 during midday trading on Friday, hitting $335.61. The stock had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. The company’s 50-day moving average price is $348.88 and its 200-day moving average price is $315.54. The company has a market capitalization of $127.69 billion, a P/E ratio of 40.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 EPS. As a group, equities research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. TD Cowen raised their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial raised their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Evercore ISI raised their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Finally, Roth Mkm lifted their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

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.