Capstone Wealth Management LLC Invests $310,000 in Stryker Co. (NYSE:SYK)

Capstone Wealth Management LLC acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 862 shares of the medical technology company’s stock, valued at approximately $310,000.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC raised its stake in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new stake in shares of Stryker during the third quarter valued at $762,798,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

Stryker Trading Up 3.2 %

Shares of SYK stock opened at $395.86 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a fifty day simple moving average of $375.61 and a two-hundred day simple moving average of $359.53. The firm has a market capitalization of $150.91 billion, a PE ratio of 42.43, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker’s dividend payout ratio is currently 36.01%.

Analyst Upgrades and Downgrades

SYK has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

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.