Tandem Investment Advisors Inc. Buys 6,897 Shares of Stryker Co. (NYSE:SYK)

by · The Cerbat Gem

Tandem Investment Advisors Inc. raised its position in Stryker Co. (NYSE:SYK – Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,938 shares of the medical technology company’s stock after purchasing an additional 6,897 shares during the period. Stryker comprises about 3.7% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Tandem Investment Advisors Inc.’s holdings in Stryker were worth $98,271,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Parnassus Investments LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC raised its holdings in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in shares of Stryker during the 3rd quarter worth $143,392,000. State Street Corp boosted its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC grew its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. UBS Group raised their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price target on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Barclays upped their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

Read Our Latest Stock Analysis on SYK

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Down 0.5 %

SYK stock opened at $386.47 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $377.92 and a 200-day simple moving average of $368.21. The company has a market capitalization of $147.47 billion, a P/E ratio of 49.80, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the company posted $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Stryker Company Profile

(Free Report)

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.

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