Versant Capital Management Inc Raises Holdings in Stryker Co. (NYSE:SYK)

Versant Capital Management Inc increased its stake in shares of Stryker Co. (NYSE:SYK) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,121 shares of the medical technology company’s stock after acquiring an additional 159 shares during the quarter. Versant Capital Management Inc’s holdings in Stryker were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SYK. Dunhill Financial LLC increased its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR increased its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the third quarter valued at about $36,000. Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

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

Stryker Stock Performance

Shares of Stryker stock opened at $358.72 on Friday. Stryker Co. has a 1 year low of $292.43 and a 1 year high of $398.20. The firm’s 50-day moving average is $375.06 and its 200 day moving average is $356.96. The stock has a market cap of $136.75 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last issued its 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 for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. Sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SYK shares. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.