Modern Wealth Management LLC Buys 1,889 Shares of Stryker Co. (NYSE:SYK)

Modern Wealth Management LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 197.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,845 shares of the medical technology company’s stock after buying an additional 1,889 shares during the quarter. Modern Wealth Management LLC’s holdings in Stryker were worth $1,117,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. J. W. Coons Advisors LLC lifted its holdings in shares of Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares during the period. Mascoma Wealth Management LLC lifted its holdings in Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after purchasing an additional 27 shares during the last quarter. Opal Wealth Advisors LLC boosted its position in Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its stake in Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock worth $507,000 after buying an additional 28 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its holdings in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup restated a “buy” rating and issued a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Price Performance

Shares of SYK opened at $367.34 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $140.17 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The stock’s 50-day moving average price is $384.74 and its two-hundred day moving average price is $374.29. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business posted $3.46 EPS. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is presently 43.30%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.