Park Avenue Securities LLC raised its holdings in Stryker Co. (NYSE:SYK - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,613 shares of the medical technology company's stock after purchasing an additional 2,142 shares during the quarter. Park Avenue Securities LLC's holdings in Stryker were worth $3,821,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Kathmere Capital Management LLC acquired a new position in Stryker in the 4th quarter valued at about $291,000. Board of the Pension Protection Fund purchased a new position in shares of Stryker in the 4th quarter valued at approximately $144,000. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of Stryker by 5.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,621 shares of the medical technology company's stock valued at $584,000 after purchasing an additional 86 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Stryker by 3.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,204 shares of the medical technology company's stock worth $1,513,000 after purchasing an additional 129 shares during the last quarter. Finally, CCLA Investment Management lifted its holdings in shares of Stryker by 4.7% during the fourth quarter. CCLA Investment Management now owns 314,087 shares of the medical technology company's stock worth $113,099,000 after purchasing an additional 14,186 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company's stock.
A number of equities analysts have commented on SYK shares. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Piper Sandler restated an "overweight" rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. StockNews.com raised Stryker from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have given 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.
View Our Latest Analysis on Stryker
Shares of NYSE:SYK opened at $381.32 on Friday. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The stock has a market cap of $145.36 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The business's fifty day moving average price is $375.12 and its two-hundred day moving average price is $358.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.
Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm 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 for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 EPS. On average, analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker's payout ratio is 36.01%.
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.
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