Trueblood Wealth Management LLC Grows Stake in Stryker Co. (NYSE:SYK)

Trueblood Wealth Management LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 10.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,140 shares of the medical technology company’s stock after acquiring an additional 299 shares during the period. Trueblood Wealth Management LLC’s holdings in Stryker were worth $1,131,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC grew its holdings in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC grew its position in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $762,798,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $383.91 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The firm’s fifty day moving average price is $375.51 and its 200 day moving average price is $358.98. The company has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is 36.01%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYK shares. UBS Group increased their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research boosted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus 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.