Fulcrum Capital LLC Purchases 400 Shares of Stryker Co. (NYSE:SYK)

Fulcrum Capital LLC raised its position in Stryker Co. (NYSE:SYK) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,915 shares of the medical technology company’s stock after buying an additional 400 shares during the quarter. Fulcrum Capital LLC’s holdings in Stryker were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SYK. Avestar Capital LLC grew its holdings in shares of Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. boosted its stake in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. Grimes & Company Inc. boosted its stake in Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares during the last quarter. Moran Wealth Management LLC boosted its stake in Stryker by 0.4% during the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after purchasing an additional 34 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in Stryker by 0.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 7,547 shares of the medical technology company’s stock valued at $2,719,000 after purchasing an additional 35 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup boosted 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. Truist Financial upped their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Price Performance

Shares of SYK stock traded down $2.85 during trading hours on Monday, hitting $362.81. The company had a trading volume of 749,472 shares, compared to its average volume of 1,200,666. 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 $138.31 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.82 and a beta of 0.95. The firm’s fifty day moving average is $375.40 and its 200 day moving average is $357.95. 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 (NYSE:SYK) last released 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 business 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 prior year, the company earned $2.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Buying and Selling at Stryker

In other 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.