Stryker Co. (NYSE:SYK) Stake Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,204 shares of the medical technology company’s stock after acquiring an additional 129 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Stryker were worth $1,513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the third quarter worth $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 sale, the chief executive officer now owns 100,027 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.5 %

SYK opened at $368.09 on Thursday. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The business has a 50 day moving average of $375.13 and a 200-day moving average of $358.25. The stock has a market capitalization of $140.32 billion, a price-to-earnings ratio of 39.45, 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 (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.91%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

Stryker Company Profile

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.