Fortress Financial Solutions LLC Makes New $272,000 Investment in Stryker Co. (NYSE:SYK)

Fortress Financial Solutions LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 756 shares of the medical technology company’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Dunhill Financial LLC raised its stake 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 worth $27,000 after purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter worth approximately $36,000. Activest Wealth Management bought a new position in Stryker during the fourth quarter valued at approximately $36,000. Crews Bank & Trust acquired a new stake in Stryker in the fourth quarter valued at approximately $39,000. Finally, Hara Capital LLC bought a new stake in Stryker in the third quarter worth approximately $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYK shares. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial increased their price objective on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Stock Performance

NYSE SYK opened at $390.52 on Wednesday. The company’s fifty day moving average is $377.28 and its two-hundred day moving average is $365.59. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $148.88 billion, a price-to-earnings ratio of 50.33, a P/E/G ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $3.46 EPS. Equities research analysts forecast that Stryker Co. will post 13.49 EPS for the current year.

Stryker Dividend Announcement

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

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.