Mill Creek Capital Advisors LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Mill Creek Capital Advisors LLC increased its position in Stryker Co. (NYSE:SYK) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 745 shares of the medical technology company’s stock after acquiring an additional 136 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Stryker were worth $268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC raised its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker in the 3rd quarter worth about $36,000. Activest Wealth Management bought a new stake in Stryker in the 4th quarter worth about $36,000. Crews Bank & Trust purchased a new position in Stryker in the 4th quarter worth about $39,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYK has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Canaccord Genuity Group raised their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on 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 transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.5 %

Shares of SYK stock opened at $390.52 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company’s fifty day moving average price is $377.28 and its 200-day moving average price is $365.59. The company has a market capitalization of $148.88 billion, a price-to-earnings ratio of 50.33, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 previous year, the firm earned $3.46 EPS. Sell-side analysts expect that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. 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%.

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.