Oxler Private Wealth LLC Trims Position in Stryker Co. (NYSE:SYK)

Oxler Private Wealth LLC lowered its holdings in Stryker Co. (NYSE:SYK) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,828 shares of the medical technology company’s stock after selling 42 shares during the period. Oxler Private Wealth LLC’s holdings in Stryker were worth $1,738,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC increased its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker in the third quarter valued at approximately $36,000. Crews Bank & Trust acquired a new position in Stryker during the fourth quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth approximately $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.1 %

Shares of SYK opened at $390.90 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock has a 50-day moving average price of $376.56 and a 200 day moving average price of $362.38. 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 company has a market capitalization of $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Sell-side analysts forecast that Stryker Co. will post 13.53 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 43.30%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the business’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 value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYK. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group raised their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $419.37.

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.