McAdam LLC Buys Shares of 724 Stryker Co. (NYSE:SYK)

McAdam LLC bought a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 724 shares of the medical technology company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. HBC Financial Services PLLC purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $37,000. Bourgeon Capital Management LLC purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $37,000. Operose Advisors LLC lifted its stake in shares of Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Stryker by 97.1% during the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after buying an additional 67 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE SYK opened at $336.32 on Wednesday. The firm has a market cap of $127.96 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.73 and a beta of 0.89. The company has a 50-day simple moving average of $348.44 and a two-hundred day simple moving average of $316.70. The company has a quick ratio of 0.97, a current ratio of 1.58 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 posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company earned $2.14 EPS. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYK shares. TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Evercore ISI upped their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company upped their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Finally, Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by company insiders.

About Stryker

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.