Stone Point Wealth LLC lifted its position in Stryker Co. (NYSE:SYK – Get Rating) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,661 shares of the medical technology company’s stock after purchasing an additional 450 shares during the quarter. Stryker comprises about 1.9% of Stone Point Wealth LLC’s investment portfolio, making the stock its 7th biggest position. Stone Point Wealth LLC’s holdings in Stryker were worth $3,172,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SYK. Carolinas Wealth Consulting LLC increased its holdings in shares of Stryker by 3.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,533 shares of the medical technology company’s stock worth $411,000 after buying an additional 45 shares during the last quarter. Intelligence Driven Advisers LLC boosted its position in shares of Stryker by 1.7% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 2,817 shares of the medical technology company’s stock worth $596,000 after purchasing an additional 47 shares during the period. Pinnacle Financial Partners Inc. boosted its position in shares of Stryker by 0.9% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 5,285 shares of the medical technology company’s stock worth $1,070,000 after purchasing an additional 49 shares during the period. Cornerstone Advisory LLC boosted its position in shares of Stryker by 0.9% during the 3rd quarter. Cornerstone Advisory LLC now owns 5,588 shares of the medical technology company’s stock worth $1,132,000 after purchasing an additional 50 shares during the period. Finally, Donaldson Capital Management LLC boosted its position in shares of Stryker by 2.3% during the 2nd quarter. Donaldson Capital Management LLC now owns 2,226 shares of the medical technology company’s stock worth $443,000 after purchasing an additional 51 shares during the period. 77.10% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on SYK shares. Truist Financial increased their price objective on shares of Stryker from $230.00 to $252.00 and gave the stock a “hold” rating in a research report on Tuesday, December 20th. Cowen lifted their price objective on shares of Stryker from $233.00 to $283.00 in a research report on Wednesday, December 14th. Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $225.00 to $220.00 in a research report on Tuesday, November 1st. Piper Sandler cut their price target on shares of Stryker from $260.00 to $250.00 in a research note on Monday, October 10th. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $260.68.
Stryker Trading Down 0.5 %
SYK stock traded down $1.17 on Thursday, hitting $250.85. 22,053 shares of the company were exchanged, compared to its average volume of 1,484,894. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $279.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.04 and a quick ratio of 1.19. The business’s fifty day moving average is $241.08 and its two-hundred day moving average is $222.05. The stock has a market capitalization of $94.93 billion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94.
Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The medical technology company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.12). Stryker had a return on equity of 22.27% and a net margin of 13.69%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company posted $2.20 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 9.17 earnings per share for the current year.
Stryker Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.20%. This is a positive change from Stryker’s previous quarterly dividend of $0.70. Stryker’s dividend payout ratio is presently 46.66%.
Insider Transactions at Stryker
In other news, CEO Kevin Lobo sold 67,232 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $239.68, for a total value of $16,114,165.76. Following the completion of the sale, the chief executive officer now owns 80,770 shares of the company’s stock, valued at $19,358,953.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Kevin Lobo sold 67,232 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $239.68, for a total value of $16,114,165.76. Following the completion of the sale, the chief executive officer now owns 80,770 shares of the company’s stock, valued at $19,358,953.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 340 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $219.68, for a total transaction of $74,691.20. Following the completion of the sale, the vice president now directly owns 12,774 shares of the company’s stock, valued at approximately $2,806,192.32. The disclosure for this sale can be found here. Insiders sold 80,079 shares of company stock valued at $19,354,832 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.
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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.