Stryker Co. (NYSE:SYK) Stake Raised by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 496 shares of the medical technology company’s stock after acquiring an additional 50 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Stryker were worth $179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR raised its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC acquired a new stake in Stryker during the third quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new stake in Stryker in the third quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

SYK opened at $366.04 on Friday. The firm has a 50-day moving average of $375.40 and a 200 day moving average of $357.70. The firm has a market cap of $139.54 billion, a P/E ratio of 39.23, a PEG ratio of 2.82 and a beta of 0.95. 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 Co. has a fifty-two week low of $306.10 and a fifty-two week high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.