Wingate Wealth Advisors Inc. Buys New Holdings in Stryker Co. (NYSE:SYK)

Wingate Wealth Advisors Inc. bought a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, HoldingsChannel reports. The fund bought 216 shares of the medical technology company’s stock, valued at approximately $78,000.

Several other hedge funds have also bought and sold shares of SYK. Parnassus Investments LLC purchased a new position in shares of Stryker during the 3rd quarter valued at approximately $762,798,000. International Assets Investment Management LLC lifted its position in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new position in Stryker in the 3rd quarter valued at $143,392,000. State Street Corp raised its stake 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC raised its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 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. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up 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 sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Trading Up 0.2 %

NYSE:SYK opened at $392.15 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The firm has a market cap of $149.50 billion, a P/E ratio of 50.53, a PEG ratio of 2.98 and a beta of 0.96. The stock’s 50 day simple moving average is $377.23 and its 200-day simple moving average is $365.14.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the business earned $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.49 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Activity at Stryker

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

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.