Secure Asset Management LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Secure Asset Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,913 shares of the medical technology company’s stock after purchasing an additional 638 shares during the period. Secure Asset Management LLC’s holdings in Stryker were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Beacon Investment Advisory Services Inc. raised its holdings in shares of Stryker by 1.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 69,807 shares of the medical technology company’s stock valued at $25,134,000 after acquiring an additional 1,243 shares in the last quarter. D.B. Root & Company LLC increased its position in Stryker by 3.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,676 shares of the medical technology company’s stock valued at $1,324,000 after purchasing an additional 135 shares during the period. Mutual Advisors LLC raised its holdings in Stryker by 13.8% in the 4th quarter. Mutual Advisors LLC now owns 6,331 shares of the medical technology company’s stock worth $2,417,000 after purchasing an additional 769 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $3,595,000. Finally, Traynor Capital Management Inc. bought a new stake in shares of Stryker during the 4th quarter valued at about $324,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Trading Up 0.1 %

Stryker stock opened at $394.08 on Friday. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The business’s fifty day moving average is $376.03 and its 200 day moving average is $360.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market capitalization of $150.23 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

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

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

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.