Van Cleef Asset Management Inc Acquires 251 Shares of Stryker Co. (NYSE:SYK)

Van Cleef Asset Management Inc raised its holdings in Stryker Co. (NYSE:SYK) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,226 shares of the medical technology company’s stock after acquiring an additional 251 shares during the quarter. Stryker comprises 1.9% of Van Cleef Asset Management Inc’s portfolio, making the stock its 13th largest position. Van Cleef Asset Management Inc’s holdings in Stryker were worth $13,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Magellan Asset Management Ltd raised its holdings in shares of Stryker by 74,911.8% during the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after acquiring an additional 679,450 shares during the period. Barclays PLC raised its holdings in shares of Stryker by 103.5% during the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after acquiring an additional 551,798 shares during the period. Morgan Stanley raised its holdings in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares during the period. The Manufacturers Life Insurance Company increased its stake in Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after buying an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Stryker by 14.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after buying an additional 194,715 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. TD Cowen lifted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Truist Financial lifted their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Royal Bank of Canada lifted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $340.67.

Stryker Stock Performance

NYSE SYK traded up $0.24 during trading on Thursday, reaching $337.09. The company’s stock had a trading volume of 1,615,335 shares, compared to its average volume of 1,286,429. The firm has a 50 day moving average price of $349.39 and a 200 day moving average price of $314.24. The firm has a market capitalization of $128.25 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 EPS. As a group, equities analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

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. In other news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value 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 SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last three months. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.