NovaPoint Capital LLC Grows Stake in Stryker Co. (NYSE:SYK)

NovaPoint Capital LLC grew its stake in Stryker Co. (NYSE:SYK) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,978 shares of the medical technology company’s stock after acquiring an additional 150 shares during the quarter. NovaPoint Capital LLC’s holdings in Stryker were worth $1,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Capital LLC increased its holdings in shares of Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after acquiring an additional 5,841 shares during the period. Zhang Financial LLC boosted its position in shares of Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Stryker in the 4th quarter worth $587,000. Berkshire Bank boosted its position in shares of Stryker by 13.8% in the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares in the last quarter. Finally, PFW Advisors LLC acquired a new stake in Stryker during the 4th quarter worth about $1,350,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SYK. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Robert W. Baird boosted 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. Barclays boosted 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. Finally, Royal Bank of Canada boosted their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen 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 price target of $419.37.

Stryker Stock Up 1.7 %

Stryker stock opened at $399.01 on Thursday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The stock’s fifty day simple moving average is $376.87 and its 200-day simple moving average is $364.00. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $152.11 billion, a P/E ratio of 51.42, a P/E/G ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the firm earned $3.46 EPS. As a group, equities analysts expect that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% 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.