Shore Point Advisors LLC Invests $343,000 in Stryker Co. (NYSE:SYK)

Shore Point Advisors LLC bought a new stake in Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 954 shares of the medical technology company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR raised its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter valued at $36,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter valued at $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BTIG Research lifted their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Up 0.6 %

Shares of Stryker stock opened at $383.91 on Monday. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The company has a 50 day moving average of $375.51 and a 200 day moving average of $358.98. 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 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 posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm 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 was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 earnings per share. As a group, research analysts forecast 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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. 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 is currently 36.01%.

Insiders Place Their Bets

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. Corporate insiders own 5.50% 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.