Alhambra Investment Management LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Alhambra Investment Management LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,997 shares of the medical technology company’s stock after buying an additional 29 shares during the quarter. Alhambra Investment Management LLC’s holdings in Stryker were worth $719,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC grew its stake in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR grew its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker in the third quarter worth $36,000. Hara Capital LLC bought a new stake in shares of Stryker during the third quarter worth $42,000. Finally, HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter valued at $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SYK shares. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Truist Financial increased their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK opened at $383.91 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. The business’s 50-day moving average is $375.35 and its 200 day moving average is $358.48. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20.

Stryker (NYSE:SYK) last released 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 during the quarter, compared to analysts’ expectations 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 period last year, the business earned $2.46 EPS. On average, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $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 is available through the SEC website. Company insiders own 5.50% of the company’s stock.

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.