Clark & Stuart Inc Takes Position in Stryker Co. (NYSE:SYK)

Clark & Stuart Inc purchased a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 14,821 shares of the medical technology company’s stock, valued at approximately $5,348,000. Stryker comprises approximately 3.9% of Clark & Stuart Inc’s portfolio, making the stock its 9th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC boosted its holdings in Stryker by 19.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company’s stock worth $241,000 after buying an additional 117 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Stryker by 16.2% during the second quarter. Federated Hermes Inc. now owns 113,916 shares of the medical technology company’s stock worth $38,760,000 after purchasing an additional 15,882 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in Stryker in the 2nd quarter valued at $241,000. Parallel Advisors LLC boosted its stake in Stryker by 2.0% during the 2nd quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company’s stock worth $5,209,000 after purchasing an additional 300 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Stryker by 11.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company’s stock worth $12,005,000 after buying an additional 3,765 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $366.04 on Monday. Stryker Co. has a 1-year low of $306.10 and a 1-year high of $398.20. The company has a market cap of $139.54 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. 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 stock’s 50-day moving average is $375.40 and its two-hundred day moving average is $357.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. Analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s payout ratio is presently 36.01%.

Analysts Set New Price Targets

Several analysts recently issued reports on SYK shares. Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays increased 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. Truist Financial boosted their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

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.