Rempart Asset Management Inc. Has $17.82 Million Position in Stryker Co. (NYSE:SYK)

Rempart Asset Management Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,496 shares of the medical technology company’s stock after acquiring an additional 2,351 shares during the period. Stryker accounts for 3.5% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Rempart Asset Management Inc.’s holdings in Stryker were worth $17,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Bath Savings Trust Co increased its holdings in shares of Stryker by 0.7% during the 4th quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company’s stock valued at $40,834,000 after acquiring an additional 823 shares during the last quarter. Regent Peak Wealth Advisors LLC acquired a new position in Stryker during the fourth quarter valued at approximately $204,000. CWA Asset Management Group LLC raised its position in shares of Stryker by 3.5% in the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock valued at $1,388,000 after purchasing an additional 131 shares during the period. Nordea Investment Management AB lifted its stake in shares of Stryker by 15.8% in the fourth quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock worth $350,485,000 after buying an additional 132,513 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its holdings in shares of Stryker by 21.4% during the 4th quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after buying an additional 1,690 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE SYK traded up $3.00 during midday trading on Wednesday, hitting $358.18. The company had a trading volume of 168,195 shares, compared to its average volume of 991,640. The firm has a 50-day moving average price of $375.25 and a 200-day moving average price of $357.42. The company has a market capitalization of $136.54 billion, a PE ratio of 38.39, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $298.52 and a twelve month high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 annualized dividend and a yield of 0.94%. Stryker’s payout ratio is presently 36.01%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYK. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Stryker in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

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.