Cassaday & Co Wealth Management LLC Buys Shares of 2,728 Stryker Co. (NYSE:SYK)

Cassaday & Co Wealth Management LLC acquired a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,728 shares of the medical technology company’s stock, valued at approximately $982,000.

Several other hedge funds have also recently bought and sold shares of the company. Dunhill Financial LLC raised its stake in 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 acquiring an additional 37 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at approximately $30,000. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter valued at $36,000. Activest Wealth Management bought a new stake in shares of Stryker in the 4th quarter worth $36,000. Finally, Crews Bank & Trust bought a new position in Stryker during the fourth quarter valued at about $39,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Barclays increased their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $420.68.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $386.47 on Friday. The firm has a market capitalization of $147.47 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.93 and a beta of 0.96. 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 stock has a fifty day moving average price of $377.92 and a two-hundred day moving average price of $368.21. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 period last year, the company earned $3.46 EPS. As a group, analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Stryker 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.