Northstar Advisory Group LLC Purchases 241 Shares of Stryker Co. (NYSE:SYK)

Northstar Advisory Group LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 6,623 shares of the medical technology company’s stock after buying an additional 241 shares during the quarter. Stryker makes up 1.2% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 29th biggest position. Northstar Advisory Group LLC’s holdings in Stryker were worth $2,385,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYK. State Street Corp lifted its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC lifted its position in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the period. Finally, Parnassus Investments LLC bought a new position in Stryker in the third quarter worth about $762,798,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock traded down $4.70 during trading hours on Monday, reaching $360.96. The company had a trading volume of 1,400,602 shares, compared to its average volume of 1,302,026. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The business has a fifty day moving average price of $375.40 and a 200-day moving average price of $357.95. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The firm has a market cap of $137.60 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. Sell-side analysts predict 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. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.93%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYK. Wells Fargo & Company upped their target price on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. 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. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial raised their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

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.