Independent Advisor Alliance Purchases 1,325 Shares of Stryker Co. (NYSE:SYK)

Independent Advisor Alliance raised its position in shares of Stryker Co. (NYSE:SYK) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,149 shares of the medical technology company’s stock after acquiring an additional 1,325 shares during the period. Independent Advisor Alliance’s holdings in Stryker were worth $2,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter valued at $25,000. Dunhill Financial LLC increased its position in Stryker by 94.9% during the third 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. Centricity Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at $30,000. BankPlus Trust Department bought a new position in Stryker during the fourth quarter valued at $33,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter valued at $36,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK opened at $363.52 on Thursday. Stryker Co. has a 52-week low of $314.93 and a 52-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. The company has a market cap of $138.71 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm’s 50-day moving average price is $382.76 and its 200-day moving average price is $373.33.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company earned $3.46 EPS. As a group, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

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.