Fortress Financial Solutions LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Fortress Financial Solutions LLC bought a new stake in Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 756 shares of the medical technology company’s stock, valued at approximately $272,000.

Several other large investors have also made changes to their positions in SYK. Chicago Capital LLC boosted its position in Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares in the last quarter. Zhang Financial LLC raised its stake in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after acquiring an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA boosted its holdings in shares of Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after acquiring an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in Stryker during the 4th quarter worth approximately $587,000. Finally, Berkshire Bank increased its holdings in Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.5 %

NYSE:SYK opened at $390.52 on Wednesday. The firm has a market capitalization of $148.88 billion, a price-to-earnings ratio of 50.33, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business’s 50-day moving average price is $377.28 and its two-hundred day moving average price is $365.59. 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 (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business posted $3.46 EPS. On average, equities analysts expect that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

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

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SYK shares. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $420.68.

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.