Harvest Fund Management Co. Ltd Raises Stake in Stryker Co. (NYSE:SYK)

Harvest Fund Management Co. Ltd raised its position in shares of Stryker Co. (NYSE:SYK) by 477.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962 shares of the medical technology company’s stock after purchasing an additional 1,622 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Stryker were worth $706,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYK shares. Wells Fargo & Company boosted their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Truist Financial boosted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Down 1.2 %

Shares of SYK opened at $373.69 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The firm has a fifty day moving average price of $384.18 and a 200-day moving average price of $373.85. The firm has a market capitalization of $142.59 billion, a P/E ratio of 48.16, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $3.46 earnings per share. Equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the 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 sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

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.