Jackson Square Capital LLC Boosts Position in Stryker Co. (NYSE:SYK)

Jackson Square Capital LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,131 shares of the medical technology company’s stock after purchasing an additional 167 shares during the quarter. Stryker makes up approximately 1.0% of Jackson Square Capital LLC’s portfolio, making the stock its 27th biggest position. Jackson Square Capital LLC’s holdings in Stryker were worth $3,027,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $1,710,744,000. GAMMA Investing LLC boosted its holdings in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $353,394,000. FMR LLC boosted its holdings in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYK shares. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Truist Financial boosted their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group set a $422.00 target price on Stryker in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Trading Down 0.9%

Shares of SYK stock opened at $377.01 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $143.90 billion, a PE ratio of 48.58, a P/E/G ratio of 2.93 and a beta of 0.91. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business’s fifty day moving average price is $372.73 and its 200 day moving average price is $375.83.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is 45.41%.

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.