Cranbrook Wealth Management LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Cranbrook Wealth Management LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,975 shares of the medical technology company’s stock after purchasing an additional 114 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Stryker were worth $1,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carderock Capital Management Inc. lifted its holdings in Stryker by 1.5% during the 4th quarter. Carderock Capital Management Inc. now owns 21,626 shares of the medical technology company’s stock valued at $7,786,000 after buying an additional 310 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Stryker by 20.9% during the fourth quarter. Merit Financial Group LLC now owns 8,862 shares of the medical technology company’s stock valued at $3,191,000 after acquiring an additional 1,535 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in shares of Stryker by 3.7% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 2,583 shares of the medical technology company’s stock valued at $930,000 after buying an additional 91 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Stryker in the fourth quarter valued at about $14,827,000. Finally, Procyon Advisors LLC lifted its stake in Stryker by 2.1% during the 4th quarter. Procyon Advisors LLC now owns 2,552 shares of the medical technology company’s stock valued at $919,000 after acquiring an additional 53 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.6 %

Stryker stock opened at $383.91 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The firm’s fifty day simple moving average is $375.35 and its 200-day simple moving average is $358.48. The company has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SYK shares. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by corporate insiders.

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.