Clearstead Trust LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Clearstead Trust LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,840 shares of the medical technology company’s stock after purchasing an additional 954 shares during the quarter. Stryker makes up approximately 1.0% of Clearstead Trust LLC’s holdings, making the stock its 17th largest holding. Clearstead Trust LLC’s holdings in Stryker were worth $3,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC grew its holdings in Stryker by 5.5% in the third quarter. Sage Mountain Advisors LLC now owns 1,272 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 66 shares during the period. Oak Harvest Investment Services raised its position in shares of Stryker by 86.1% in the 3rd quarter. Oak Harvest Investment Services now owns 3,864 shares of the medical technology company’s stock worth $1,056,000 after buying an additional 1,788 shares during the period. Everhart Financial Group Inc. boosted its holdings in Stryker by 4.4% in the third quarter. Everhart Financial Group Inc. now owns 2,328 shares of the medical technology company’s stock valued at $636,000 after acquiring an additional 98 shares during the last quarter. Hixon Zuercher LLC grew its position in Stryker by 2.1% during the third quarter. Hixon Zuercher LLC now owns 22,323 shares of the medical technology company’s stock valued at $6,100,000 after acquiring an additional 450 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Stryker by 5.1% during the third quarter. Lindbrook Capital LLC now owns 1,007 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

Shares of NYSE SYK traded up $1.82 during midday trading on Friday, reaching $328.45. 1,589,424 shares of the company’s stock were exchanged, compared to its average volume of 1,415,127. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. The stock has a market capitalization of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.55 and a beta of 0.91. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The business’s fifty day moving average price is $346.99 and its two-hundred day moving average price is $317.29.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.14 earnings per share. Analysts forecast that Stryker Co. will post 11.94 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYK. Citigroup increased their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. UBS Group raised their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada boosted their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus boosted their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.94.

Stryker 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.