Alhambra Investment Management LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Alhambra Investment Management LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,997 shares of the medical technology company’s stock after buying an additional 29 shares during the quarter. Alhambra Investment Management LLC’s holdings in Stryker were worth $719,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Planning LLC grew its position in shares of Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. Avestar Capital LLC increased its stake in Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares during the last quarter. Grimes & Company Inc. lifted its position in shares of Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after acquiring an additional 33 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its stake in shares of Stryker by 0.4% in the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. 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 report on Monday, December 2nd. Royal Bank of Canada restated an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. Finally, BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK opened at $383.91 on Friday. The firm has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $375.35 and its 200 day moving average price is $358.48.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed 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 is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. 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.