Pure Financial Advisors LLC Acquires 426 Shares of Stryker Co. (NYSE:SYK)

Pure Financial Advisors LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 67.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,055 shares of the medical technology company’s stock after buying an additional 426 shares during the quarter. Pure Financial Advisors LLC’s holdings in Stryker were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. AE Wealth Management LLC boosted its holdings in shares of Stryker by 101.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company’s stock worth $1,162,000 after buying an additional 1,722 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Stryker by 8.4% in the second quarter. Pacer Advisors Inc. now owns 27,438 shares of the medical technology company’s stock valued at $9,336,000 after acquiring an additional 2,122 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Stryker by 69.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company’s stock valued at $29,685,000 after acquiring an additional 35,833 shares during the period. ProShare Advisors LLC increased its stake in shares of Stryker by 6.6% during the 2nd quarter. ProShare Advisors LLC now owns 51,470 shares of the medical technology company’s stock worth $17,513,000 after purchasing an additional 3,206 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Stryker by 1.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,276 shares of the medical technology company’s stock worth $1,455,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $395.86 on Wednesday. The stock has a market cap of $150.91 billion, a P/E ratio of 42.43, 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 business’s 50-day moving average price is $375.61 and its two-hundred day moving average price is $359.53. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $2.46 earnings per share. As a group, equities analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYK shares. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Citigroup increased their target price 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. Finally, Truist Financial boosted their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.