Brookmont Capital Management Has $334,000 Stock Holdings in Stryker Co. (NYSE:SYK)

Brookmont Capital Management decreased its stake in shares of Stryker Co. (NYSE:SYK) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 927 shares of the medical technology company’s stock after selling 35 shares during the quarter. Brookmont Capital Management’s holdings in Stryker were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Dunhill Financial LLC lifted its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR lifted its stake 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 purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new stake in Stryker in the third quarter valued at approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the 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 in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Up 0.6 %

Shares of NYSE SYK opened at $383.91 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.63 and a beta of 0.95. The company’s fifty day simple moving average is $375.51 and its 200 day simple moving average is $359.17. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced 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 represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

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.