Perigon Wealth Management LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

Perigon Wealth Management LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 9.6% in the fourth quarter, Holdings Channel reports. The firm owned 4,078 shares of the medical technology company’s stock after buying an additional 356 shares during the quarter. Perigon Wealth Management LLC’s holdings in Stryker were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR lifted 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 worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $36,000. Hara Capital LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $42,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

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 transaction 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 approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Stryker Price Performance

SYK opened at $390.98 on Thursday. The company’s 50 day simple moving average is $376.44 and its 200 day simple moving average is $361.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1 year low of $314.05 and a 1 year high of $406.19. The stock has a market capitalization of $149.05 billion, a PE ratio of 41.91, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same quarter in the previous year, the business earned $3.46 EPS. As a group, sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYK. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $413.45.

Stryker 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.