Foundations Investment Advisors LLC Purchases 214 Shares of Stryker Co. (NYSE:SYK)

Foundations Investment Advisors LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,967 shares of the medical technology company’s stock after buying an additional 214 shares during the period. Foundations Investment Advisors LLC’s holdings in Stryker were worth $708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR lifted its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the 3rd quarter worth $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SYK shares. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $413.45.

Stryker Stock Performance

Shares of SYK stock opened at $390.98 on Thursday. The firm has a market capitalization of $149.05 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 2.68 and a beta of 0.95. The stock has a fifty day moving average of $376.44 and a 200 day moving average of $361.98. Stryker Co. has a 52 week low of $314.05 and a 52 week high of $406.19. 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, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current 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 given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend 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.