Tilia Fiduciary Partners Inc. Raises Stake in Stryker Co. (NYSE:SYK)

Tilia Fiduciary Partners Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,075 shares of the medical technology company’s stock after purchasing an additional 243 shares during the period. Stryker accounts for 1.7% of Tilia Fiduciary Partners Inc.’s portfolio, making the stock its 19th largest position. Tilia Fiduciary Partners Inc.’s holdings in Stryker were worth $2,548,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prudential PLC lifted its stake in shares of Stryker by 17.0% in the second quarter. Prudential PLC now owns 5,660 shares of the medical technology company’s stock worth $1,926,000 after buying an additional 822 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Stryker by 47.3% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the medical technology company’s stock valued at $132,000 after purchasing an additional 125 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Stryker in the second quarter worth $1,363,000. Finally, Johnson Investment Counsel Inc. raised its position in Stryker by 1,065.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 114,329 shares of the medical technology company’s stock worth $38,901,000 after buying an additional 104,523 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SYK shares. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by insiders.

Stryker Price Performance

SYK stock traded up $1.94 during mid-day trading on Friday, hitting $366.04. The company had a trading volume of 1,301,213 shares, compared to its average volume of 1,230,486. The company has a 50-day moving average price of $375.42 and a 200 day moving average price of $357.51. Stryker Co. has a 12-month low of $306.10 and a 12-month high of $398.20. The company has a market capitalization of $139.54 billion, a price-to-earnings ratio of 39.23, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $2.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. 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.