Beacon Investment Advisory Services Inc. Purchases 1,243 Shares of Stryker Co. (NYSE:SYK)

Beacon Investment Advisory Services Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,807 shares of the medical technology company’s stock after acquiring an additional 1,243 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $25,134,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Zhang Financial LLC raised its holdings in shares of Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after acquiring an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in Stryker during the 4th quarter valued at about $587,000. PFW Advisors LLC purchased a new position in shares of Stryker in the fourth quarter worth $1,350,000. Parnassus Investments LLC bought a new position in shares of Stryker during the third quarter valued at about $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in Stryker by 2.4% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $390.31 on Thursday. The stock has a market cap of $148.79 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The business has a 50-day simple moving average of $375.82 and a 200-day simple moving average of $360.16. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYK shares. Truist Financial raised their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. BTIG Research boosted their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target 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. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.