Stryker Co. (NYSE:SYK) Holdings Lifted by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lifted its stake in Stryker Co. (NYSE:SYK) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,812 shares of the medical technology company’s stock after purchasing an additional 103 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Stryker were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Zhang Financial LLC increased its position in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in Stryker in the fourth quarter worth approximately $587,000. PFW Advisors LLC acquired a new position in shares of Stryker during the 4th quarter worth $1,350,000. Parnassus Investments LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. increased its position in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYK. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 0.6 %

Shares of SYK opened at $383.91 on Tuesday. The company has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The business’s 50 day simple moving average is $375.51 and its 200-day simple moving average is $359.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Stryker 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.