Beaumont Financial Advisors LLC Buys 810 Shares of Stryker Co. (NYSE:SYK)

Beaumont Financial Advisors LLC raised its stake in Stryker Co. (NYSE:SYK) by 40.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,837 shares of the medical technology company’s stock after purchasing an additional 810 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Stryker were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Parnassus Investments LLC purchased a new position in shares of Stryker in the third quarter worth $762,798,000. International Assets Investment Management LLC increased its position in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. RTW Investments LP bought a new position in shares of Stryker during the third quarter valued at about $143,392,000. State Street Corp grew its stake in shares of 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 purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC increased its holdings in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYK shares. Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Citigroup increased their price target 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. 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 a consensus price target of $405.80.

Stryker Trading Down 1.4 %

NYSE:SYK opened at $390.31 on Thursday. The stock has a market cap of $148.79 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 2.63 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. The company’s 50 day moving average price is $375.78 and its 200-day moving average price is $359.94. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The business 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 company’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity

In other 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 value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Stryker 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.