Diversify Wealth Management LLC Increases Stake in Stryker Co. (NYSE:SYK)

Diversify Wealth Management LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,205 shares of the medical technology company’s stock after buying an additional 373 shares during the quarter. Diversify Wealth Management LLC’s holdings in Stryker were worth $3,366,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dale Q Rice Investment Management Ltd acquired a new stake in Stryker in the 4th quarter valued at about $587,000. PFW Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $1,350,000. Parnassus Investments LLC purchased a new position in Stryker during the third quarter worth approximately $762,798,000. Baltimore Washington Financial Advisors Inc. boosted its stake in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $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 is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYK. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $442.00 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Price Performance

Stryker stock opened at $383.91 on Monday. The company’s 50 day moving average is $375.51 and its two-hundred day moving average is $358.98. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20.

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. The firm had revenue of $5.49 billion during 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%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.46 earnings per share. On average, research analysts expect that Stryker Co. will post 12.06 EPS 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 issued a $0.84 dividend. 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 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is 36.01%.

Stryker Company 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.