Signal Advisors Wealth LLC Boosts Position in Stryker Co. (NYSE:SYK)

Signal Advisors Wealth LLC boosted its stake in Stryker Co. (NYSE:SYK) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,105 shares of the medical technology company’s stock after purchasing an additional 170 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Stryker were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SYK. Brown Brothers Harriman & Co. raised its stake in Stryker by 1.2% in the second quarter. Brown Brothers Harriman & Co. now owns 5,521 shares of the medical technology company’s stock worth $1,879,000 after buying an additional 66 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Stryker by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock worth $267,725,000 after acquiring an additional 97,160 shares in the last quarter. Luts & Greenleigh Group Inc. bought a new position in shares of Stryker in the 2nd quarter worth approximately $565,000. Primecap Management Co. CA lifted its stake in shares of Stryker by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock valued at $152,262,000 after purchasing an additional 1,400 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Stryker in the second quarter worth $369,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK opened at $362.68 on Wednesday. The company’s 50-day simple moving average is $375.13 and its two-hundred day simple moving average is $358.25. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The stock has a market capitalization of $138.26 billion, a P/E ratio of 38.87, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s dividend payout ratio is currently 36.01%.

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.