Bleakley Financial Group LLC Buys 1,964 Shares of Stryker Co. (NYSE:SYK)

Bleakley Financial Group LLC grew its stake in Stryker Co. (NYSE:SYK) by 25.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,763 shares of the medical technology company’s stock after purchasing an additional 1,964 shares during the period. Bleakley Financial Group LLC’s holdings in Stryker were worth $3,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. NovaPoint Capital LLC lifted its stake in shares of Stryker by 5.3% during the 4th quarter. NovaPoint Capital LLC now owns 2,978 shares of the medical technology company’s stock worth $1,072,000 after acquiring an additional 150 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of Stryker by 47.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 925 shares of the medical technology company’s stock worth $334,000 after acquiring an additional 296 shares during the last quarter. Tyche Wealth Partners LLC lifted its stake in shares of Stryker by 191.3% during the 4th quarter. Tyche Wealth Partners LLC now owns 3,280 shares of the medical technology company’s stock worth $1,181,000 after acquiring an additional 2,154 shares during the last quarter. Tectonic Advisors LLC lifted its stake in shares of Stryker by 2.7% during the 4th quarter. Tectonic Advisors LLC now owns 2,354 shares of the medical technology company’s stock worth $847,000 after acquiring an additional 63 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Stryker by 37.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,366 shares of the medical technology company’s stock worth $15,114,000 after acquiring an additional 11,247 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYK. Royal Bank of Canada raised their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lifted their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Piper Sandler reaffirmed 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. Finally, Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $419.37.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.50% of the company’s stock.

Stryker Stock Down 0.7 %

Stryker stock opened at $396.24 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business’s 50-day simple moving average is $377.08 and its two-hundred day simple moving average is $364.24. The company has a market cap of $151.06 billion, a PE ratio of 51.06, a PEG ratio of 2.78 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm posted $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.5 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.