Mutual Advisors LLC Has $2.42 Million Stock Position in Stryker Co. (NYSE:SYK)

Mutual Advisors LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 13.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,331 shares of the medical technology company’s stock after buying an additional 769 shares during the quarter. Mutual Advisors LLC’s holdings in Stryker were worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC acquired a new position in shares of Stryker during the third quarter valued at about $762,798,000. International Assets Investment Management LLC raised its holdings in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP bought a new stake in shares of Stryker in the 3rd quarter worth approximately $143,392,000. State Street Corp grew its holdings in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its position in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.8 %

NYSE SYK opened at $393.79 on Friday. The stock has a market capitalization of $150.12 billion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a fifty day moving average of $375.82 and a 200-day moving average of $360.16.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. On average, equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed 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 positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Analysts Set New Price Targets

A number of research firms have weighed in on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’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 $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

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.