InterOcean Capital Group LLC Has $1.86 Million Holdings in Stryker Co. (NYSE:SYK)

InterOcean Capital Group LLC grew its stake in Stryker Co. (NYSE:SYK) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,203 shares of the medical technology company’s stock after buying an additional 73 shares during the quarter. InterOcean Capital Group LLC’s holdings in Stryker were worth $1,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keybank National Association OH boosted its holdings in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares during the period. Carnegie Capital Asset Management LLC lifted its position in shares of Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Stryker in the fourth quarter worth $1,561,000. CoreCap Advisors LLC lifted its position in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares in the last quarter. Finally, Consolidated Planning Corp bought a new stake in shares of Stryker in the fourth quarter worth $205,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYK shares. Truist Financial boosted their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research 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 price objective on the stock in a research report on Wednesday, January 31st. Piper Sandler increased their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI increased 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. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $367.32.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Stryker stock traded up $4.48 during trading hours on Wednesday, reaching $334.99. 679,747 shares of the stock were exchanged, compared to its average volume of 1,326,265. The company has a market cap of $127.61 billion, a P/E ratio of 37.73, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a 50 day moving average of $341.13 and a two-hundred day moving average of $323.29.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.14 earnings per share. Equities analysts expect that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. Stryker’s payout ratio is currently 36.53%.

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.