Forza Wealth Management LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Forza Wealth Management LLC increased its holdings in Stryker Co. (NYSE:SYK) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 885 shares of the medical technology company’s stock after acquiring an additional 51 shares during the period. Forza Wealth Management LLC’s holdings in Stryker were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dunhill Financial LLC increased its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR boosted its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the third quarter worth $36,000. Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Finally, HBW Advisory Services LLC purchased a new position in Stryker in the third quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.9 %

Shares of SYK stock traded down $3.13 during mid-day trading on Monday, reaching $362.53. The company’s stock had a trading volume of 679,153 shares, compared to its average volume of 1,192,094. The company’s 50 day simple moving average is $375.40 and its 200-day simple moving average is $357.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The firm has a market capitalization of $138.20 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 EPS. On average, research analysts predict 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. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. BTIG Research lifted their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $405.80.

About Stryker

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.