Stryker Co. (NYSE:SYK) Shares Acquired by D.B. Root & Company LLC

D.B. Root & Company LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,676 shares of the medical technology company’s stock after buying an additional 135 shares during the quarter. D.B. Root & Company LLC’s holdings in Stryker were worth $1,324,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in Stryker by 13.8% during the 4th quarter. Mutual Advisors LLC now owns 6,331 shares of the medical technology company’s stock worth $2,417,000 after buying an additional 769 shares during the period. True North Advisors LLC purchased a new position in shares of Stryker in the fourth quarter worth approximately $3,595,000. Traynor Capital Management Inc. acquired a new stake in shares of Stryker during the fourth quarter valued at approximately $324,000. Independent Wealth Network Inc. lifted its position in shares of Stryker by 6.1% in the 4th quarter. Independent Wealth Network Inc. now owns 677 shares of the medical technology company’s stock valued at $244,000 after acquiring an additional 39 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in Stryker by 5.1% in the 4th quarter. Wesbanco Bank Inc. now owns 27,496 shares of the medical technology company’s stock worth $9,900,000 after purchasing an additional 1,324 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $390.31 on Thursday. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock’s 50-day moving average is $375.82 and its two-hundred day moving average is $360.16. The firm has a market cap of $148.79 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. 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 (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company 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 dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Five investment 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, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.