PUREfi Wealth LLC Takes $7.85 Million Position in Stryker Co. (NYSE:SYK)

PUREfi Wealth LLC bought a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,791 shares of the medical technology company’s stock, valued at approximately $7,846,000. Stryker comprises 7.7% of PUREfi Wealth LLC’s portfolio, making the stock its 2nd biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. Activest Wealth Management acquired a new position in Stryker during the fourth quarter worth approximately $36,000. Crews Bank & Trust acquired a new position in Stryker during the fourth quarter worth approximately $39,000. Finally, Hara Capital LLC acquired a new position in Stryker during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.9 %

Shares of SYK stock opened at $385.05 on Friday. 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 $146.79 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The stock has a 50 day simple moving average of $377.31 and a 200 day simple moving average of $366.30. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company earned $3.46 earnings per share. On average, research analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is presently 43.30%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYK shares. Robert W. Baird boosted their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

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.