Opal Wealth Advisors LLC Acquires 28 Shares of Stryker Co. (NYSE:SYK)

Opal Wealth Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,816 shares of the medical technology company’s stock after purchasing an additional 28 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Stryker were worth $654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management boosted its position in Stryker by 6.3% during the third quarter. Ritholtz Wealth Management now owns 5,140 shares of the medical technology company’s stock valued at $1,857,000 after purchasing an additional 306 shares in the last quarter. InTrack Investment Management Inc boosted its position in Stryker by 8.1% in the 3rd quarter. InTrack Investment Management Inc now owns 3,612 shares of the medical technology company’s stock worth $1,305,000 after purchasing an additional 271 shares in the last quarter. Mechanics Bank Trust Department boosted its stake in shares of Stryker by 5.0% during the 3rd quarter. Mechanics Bank Trust Department now owns 7,563 shares of the medical technology company’s stock worth $2,732,000 after acquiring an additional 359 shares in the last quarter. Annex Advisory Services LLC grew its holdings in Stryker by 6.0% in the third quarter. Annex Advisory Services LLC now owns 8,314 shares of the medical technology company’s stock valued at $3,004,000 after purchasing an additional 471 shares during the period. Finally, Retirement Planning Group LLC purchased a new position in Stryker during the third quarter valued at $249,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup raised their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

SYK stock opened at $391.42 on Monday. The company has a 50-day simple moving average of $377.23 and a 200 day simple moving average of $364.97. The company has a market capitalization of $149.22 billion, a P/E ratio of 50.44, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the business earned $3.46 EPS. Sell-side analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.