Sugarloaf Wealth Management LLC Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Sugarloaf Wealth Management LLC increased its holdings in Stryker Co. (NYSE:SYK) by 11.2% during the 4th quarter, Holdings Channel reports. The firm owned 496 shares of the medical technology company’s stock after buying an additional 50 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Stryker were worth $179,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SYK. American Century Companies Inc. grew its holdings in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares during the period. Qsemble Capital Management LP purchased a new stake in Stryker in the second quarter worth $1,363,000. Main Street Financial Solutions LLC raised its holdings in Stryker by 19.8% in the second quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company’s stock worth $241,000 after purchasing an additional 117 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Stryker by 1.0% during the second quarter. Oppenheimer & Co. Inc. now owns 20,875 shares of the medical technology company’s stock valued at $7,103,000 after buying an additional 214 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Stryker by 7.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 798,347 shares of the medical technology company’s stock valued at $271,846,000 after buying an additional 52,744 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the company’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 transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Up 0.5 %

Shares of SYK opened at $366.04 on Friday. Stryker Co. has a 12-month low of $306.10 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $139.54 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The business’s 50 day moving average is $375.40 and its 200 day moving average is $357.70.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. Research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. 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%.

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.