Stryker Co. (NYSE:SYK) is 626 Financial LLC’s 2nd Largest Position

626 Financial LLC lessened its stake in Stryker Co. (NYSE:SYK) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,188 shares of the medical technology company’s stock after selling 76 shares during the quarter. Stryker makes up approximately 11.5% of 626 Financial LLC’s holdings, making the stock its 2nd biggest holding. 626 Financial LLC’s holdings in Stryker were worth $21,311,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR raised its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker during the third quarter worth about $36,000. Hara Capital LLC acquired a new stake in Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC acquired a new stake in Stryker during the third quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $362.68 on Wednesday. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The firm has a market cap of $138.26 billion, a price-to-earnings ratio of 38.87, a P/E/G ratio of 2.82 and a beta of 0.95. The firm’s 50-day simple moving average is $375.13 and its 200 day simple moving average is $358.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. 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 0.93%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Analyst Ratings Changes

Several brokerages have commented on SYK. UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research lifted their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Barclays lifted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.