Janney Montgomery Scott LLC Has $24.64 Million Position in Stryker Co. (NYSE:SYK)

Janney Montgomery Scott LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,425 shares of the medical technology company’s stock after purchasing an additional 3,870 shares during the period. Janney Montgomery Scott LLC’s holdings in Stryker were worth $24,636,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Finally, Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $394.08 on Friday. 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. The stock has a 50-day moving average of $376.03 and a 200-day moving average of $360.39. 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 one year low of $307.23 and a one year high of $398.20.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s payout ratio is currently 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.