Proathlete Wealth Management LLC Purchases 32 Shares of Stryker Co. (NYSE:SYK)

Proathlete Wealth Management LLC lifted its position in Stryker Co. (NYSE:SYK) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 854 shares of the medical technology company’s stock after buying an additional 32 shares during the period. Proathlete Wealth Management LLC’s holdings in Stryker were worth $308,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in Stryker during the 3rd quarter worth about $762,798,000. International Assets Investment Management LLC grew its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP bought a new position in shares of Stryker in the 3rd quarter valued at about $143,392,000. State Street Corp grew its holdings in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Truist Financial raised their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Up 1.4 %

NYSE SYK opened at $399.83 on Tuesday. 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 $310.74 and a 1-year high of $400.34. The company has a 50 day moving average of $376.11 and a 200-day moving average of $361.15. The company has a market cap of $152.42 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced 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 analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was 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 accessible through the SEC website. Insiders own 5.90% of the company’s stock.

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.