Contravisory Investment Management Inc. Increases Holdings in Stryker Co. (NYSE:SYK)

Contravisory Investment Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,944 shares of the medical technology company’s stock after purchasing an additional 33 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Stryker were worth $7,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dunhill Financial LLC lifted its holdings 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 in the last quarter. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd 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 last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter valued at about $36,000. Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter worth about $42,000. Finally, HBW Advisory Services LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SYK. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday, January 7th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by company insiders.

Stryker Trading Up 1.5 %

Shares of NYSE:SYK opened at $368.09 on Thursday. The company has a market capitalization of $140.32 billion, a PE ratio of 39.45, a PEG ratio of 2.51 and a beta of 0.95. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The business has a 50 day moving average of $375.13 and a two-hundred day moving average of $358.25. 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 (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared 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 boost 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 yield of 0.91%. Stryker’s dividend payout ratio is presently 36.01%.

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.