Peterson Wealth Services Raises Holdings in Stryker Co. (NYSE:SYK)

Peterson Wealth Services grew its position in shares of Stryker Co. (NYSE:SYK) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,828 shares of the medical technology company’s stock after buying an additional 68 shares during the period. Stryker accounts for 1.4% of Peterson Wealth Services’ investment portfolio, making the stock its 16th largest position. Peterson Wealth Services’ holdings in Stryker were worth $4,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $36,000. Activest Wealth Management purchased a new position in shares of Stryker during the 4th quarter valued at $36,000. Crews Bank & Trust purchased a new position in shares of Stryker during the 4th quarter valued at $39,000. Finally, Hara Capital LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $392.15 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $149.50 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The business’s 50-day moving average price is $377.23 and its 200-day moving average price is $365.14. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 EPS. Sell-side analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Truist Financial increased their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Stifel Nicolaus increased their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price objective on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $420.68.

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.