Sunbelt Securities Inc. Raises Position in Stryker Co. (NYSE:SYK)

Sunbelt Securities Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 25.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 501 shares of the medical technology company’s stock after buying an additional 102 shares during the quarter. Sunbelt Securities Inc.’s holdings in Stryker were worth $181,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in Stryker during the 3rd quarter valued at about $762,798,000. Baltimore Washington Financial Advisors Inc. boosted its holdings in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after purchasing an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC raised its stake in Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after buying an additional 16,504 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Stryker by 42.1% in the 2nd quarter. Fiera Capital Corp now owns 16,713 shares of the medical technology company’s stock worth $5,687,000 after buying an additional 4,948 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $425.00 target price (up from $400.00) on shares of Stryker in a research report on Wednesday. Truist Financial increased their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $404.35.

Stryker Price Performance

SYK stock opened at $374.60 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market capitalization of $142.81 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The company’s fifty day moving average price is $373.36 and its 200-day moving average price is $355.03. Stryker Co. has a one year low of $285.79 and a one year high of $398.20.

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

Stryker Increases Dividend

The business 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 dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s dividend payout ratio is 34.30%.

Insider Activity at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.