Mogy Joel R Investment Counsel Inc. Increases Position in Stryker Co. (NYSE:SYK)

Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,998 shares of the medical technology company’s stock after purchasing an additional 746 shares during the period. Stryker comprises approximately 2.0% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 17th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Stryker were worth $34,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zhang Financial LLC increased its stake in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in shares of Stryker in the 4th quarter valued at $587,000. PFW Advisors LLC purchased a new position in shares of Stryker in the 4th quarter valued at $1,350,000. Parnassus Investments LLC acquired a new stake in Stryker during the 3rd quarter worth $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in Stryker by 2.4% in the third 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. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

Shares of NYSE SYK opened at $383.91 on Tuesday. 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 firm has a 50-day moving average price of $375.61 and a 200 day moving average price of $359.53. 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 $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 EPS. Equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal 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 paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Insider Buying and Selling

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. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SYK. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.