Grimes & Company Inc. Has $2.98 Million Stock Position in Stryker Co. (NYSE:SYK)

Grimes & Company Inc. increased its position in Stryker Co. (NYSE:SYK) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,277 shares of the medical technology company’s stock after purchasing an additional 38 shares during the quarter. Grimes & Company Inc.’s holdings in Stryker were worth $2,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth about $36,000. Hara Capital LLC bought a new position in Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI lifted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on 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 in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.1 %

SYK opened at $394.08 on Friday. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The stock’s fifty day simple moving average is $376.11 and its 200 day simple moving average is $360.81. 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 has a market cap of $150.23 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is 36.01%.

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.