Stryker Co. (NYSE:SYK) Stock Holdings Lifted by Zhang Financial LLC

Zhang Financial LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 55.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,889 shares of the medical technology company’s stock after purchasing an additional 40,784 shares during the period. Stryker accounts for about 2.4% of Zhang Financial LLC’s investment portfolio, making the stock its 11th largest position. Zhang Financial LLC’s holdings in Stryker were worth $41,366,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dale Q Rice Investment Management Ltd bought a new stake in Stryker in the fourth quarter worth $587,000. PFW Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter worth about $1,350,000. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter worth about $762,798,000. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Stryker by 2.4% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after acquiring an additional 2,000 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE SYK opened at $383.91 on Monday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. The company’s 50-day simple moving average is $375.51 and its 200 day simple moving average is $358.98.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. As a group, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SYK shares. Wells Fargo & Company increased their price target on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler reissued 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 company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.