Brooklyn Investment Group Buys 384 Shares of Stryker Co. (NYSE:SYK)

Brooklyn Investment Group lifted its position in shares of Stryker Co. (NYSE:SYK) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,849 shares of the medical technology company’s stock after purchasing an additional 384 shares during the period. Brooklyn Investment Group’s holdings in Stryker were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC grew its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC acquired a new position in Stryker during the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC acquired a new position in Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Stryker stock opened at $383.91 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The firm has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company’s 50-day moving average is $375.35 and its 200 day moving average is $358.48.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Stryker Co. will post 12.06 EPS for the current 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 given a dividend of $0.84 per share. This is a boost 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 is presently 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.