Regent Peak Wealth Advisors LLC Purchases Shares of 567 Stryker Co. (NYSE:SYK)

Regent Peak Wealth Advisors LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 567 shares of the medical technology company’s stock, valued at approximately $204,000.

Several other hedge funds also recently bought and sold shares of SYK. Addenda Capital Inc. boosted its stake in shares of Stryker by 0.9% in the fourth quarter. Addenda Capital Inc. now owns 18,914 shares of the medical technology company’s stock worth $6,823,000 after acquiring an additional 160 shares during the period. Sky Investment Group LLC grew its holdings in Stryker by 0.6% during the 4th quarter. Sky Investment Group LLC now owns 15,204 shares of the medical technology company’s stock valued at $5,474,000 after buying an additional 85 shares in the last quarter. Union Savings Bank raised its position in shares of Stryker by 1.0% during the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock valued at $1,138,000 after buying an additional 31 shares during the last quarter. Zhang Financial LLC lifted its holdings in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after buying an additional 40,784 shares in the last quarter. Finally, Shore Point Advisors LLC bought a new position in shares of Stryker during the fourth quarter worth $343,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup boosted their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Robert W. Baird upped 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. Truist Financial raised their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by insiders.

Stryker Stock Up 0.6 %

NYSE:SYK opened at $383.91 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.63 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 $359.17. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is 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.