By otakuyassine3@gmail.com 
Harbour Capital Advisors LLC lifted its holdings in Stryker Co. (NYSE:SYK – Free Report) by 179.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,703 shares of the medical technology company’s stock after purchasing an additional 1,093 shares during the period. Harbour Capital Advisors LLC’s holdings in Stryker were worth $616,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avestar Capital LLC grew its position 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 valued at $1,065,000 after acquiring an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in Stryker by 1.5% during the third 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 period. Grimes & Company Inc. increased its position in Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after buying an additional 33 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of Stryker by 0.4% in the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after buying an additional 34 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in shares of 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 buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Insider Buying and Selling
In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.
Stryker Price Performance
Shares of Stryker stock traded down $2.89 during trading hours on Monday, reaching $362.77. The company’s stock had a trading volume of 717,706 shares, compared to its average volume of 1,197,129. 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 one year low of $307.23 and a one year high of $398.20. The firm has a 50 day moving average price of $375.40 and a 200-day moving average price of $357.95. The stock has a market cap of $138.29 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.82 and a beta of 0.95.
Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. On average, analysts predict that Stryker Co. will post 12.06 EPS for the current 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 dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s payout ratio is 36.01%.
Wall Street Analyst Weigh In
A number of research firms have commented on SYK. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.
Read Our Latest Analysis on SYK
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.
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