Stryker Co. (NYSE:SYK) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its position in Stryker Co. (NYSE:SYK) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,439 shares of the medical technology company’s stock after purchasing an additional 1,647 shares during the quarter. Blue Trust Inc.’s holdings in Stryker were worth $3,410,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Zhang Financial LLC raised its stake in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Stryker in the 4th quarter valued at $587,000. PFW Advisors LLC acquired a new stake in shares of Stryker in the 4th quarter worth $1,350,000. Parnassus Investments LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $762,798,000. Finally, Traynor Capital Management Inc. acquired a new stake in shares of Stryker in the 4th quarter worth $324,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Finally, Truist Financial raised their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity

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 value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $394.08 on Monday. The business has a 50-day moving average of $376.11 and a 200 day moving average of $360.98. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The stock has a market capitalization of $150.23 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 2.68 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.

Stryker (NYSE:SYK) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend 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 (DPR) is presently 36.01%.

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.