Oxler Private Wealth LLC Cuts Holdings in Stryker Co. (NYSE:SYK)

Oxler Private Wealth LLC lessened its stake in Stryker Co. (NYSE:SYK) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,828 shares of the medical technology company’s stock after selling 42 shares during the quarter. Oxler Private Wealth LLC’s holdings in Stryker were worth $1,738,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the third quarter worth $36,000. Crews Bank & Trust purchased a new position in Stryker in the fourth quarter valued at $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker during the 3rd quarter worth about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. 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 owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYK. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial boosted their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Piper Sandler reissued 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. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Trading Up 0.1 %

Shares of SYK opened at $390.90 on Friday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $149.02 billion, a P/E ratio of 50.37, a PEG ratio of 2.68 and a beta of 0.95. The firm’s 50-day moving average is $376.56 and its two-hundred day moving average is $362.38.

Stryker (NYSE:SYK) last released its quarterly 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 23.86% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 EPS. On average, research analysts predict that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is currently 43.30%.

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.