GAMMA Investing LLC Acquires 1,888 Shares of Stryker Co. (NYSE:SYK)

GAMMA Investing LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 65.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,789 shares of the medical technology company’s stock after purchasing an additional 1,888 shares during the period. GAMMA Investing LLC’s holdings in Stryker were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. FineMark National Bank & Trust increased its stake in Stryker by 12.4% in the second quarter. FineMark National Bank & Trust now owns 4,155 shares of the medical technology company’s stock valued at $1,414,000 after acquiring an additional 459 shares during the last quarter. Foster & Motley Inc. grew its position in shares of Stryker by 250.0% during the 2nd quarter. Foster & Motley Inc. now owns 2,254 shares of the medical technology company’s stock valued at $767,000 after acquiring an additional 1,610 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in Stryker by 2.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 7,932 shares of the medical technology company’s stock valued at $2,699,000 after acquiring an additional 179 shares during the period. Columbia Asset Management grew its position in shares of Stryker by 1.6% in the second quarter. Columbia Asset Management now owns 16,935 shares of the medical technology company’s stock valued at $5,762,000 after purchasing an additional 272 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Stryker by 1.1% during the second quarter. Arizona State Retirement System now owns 99,216 shares of the medical technology company’s stock valued at $33,758,000 after acquiring an additional 1,089 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.8 %

Stryker stock opened at $361.52 on Friday. The stock has a market capitalization of $137.82 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.82 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $375.06 and a two-hundred day moving average of $356.96. Stryker Co. has a twelve month low of $292.96 and a twelve month high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Citigroup boosted their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price target (up from $400.00) on shares of Stryker in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

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.