Chesapeake Wealth Management Boosts Stock Position in Stryker Co. (NYSE:SYK)

Chesapeake Wealth Management boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 9.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,027 shares of the medical technology company’s stock after buying an additional 85 shares during the period. Chesapeake Wealth Management’s holdings in Stryker were worth $370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dale Q Rice Investment Management Ltd bought a new stake in Stryker in the 4th quarter worth approximately $587,000. Zhang Financial LLC increased its position in shares of Stryker by 55.0% during 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. PFW Advisors LLC bought a new position in shares of Stryker during the 4th quarter valued at approximately $1,350,000. Parnassus Investments LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in Stryker by 2.4% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after acquiring an additional 1,554 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $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 is available through the SEC website. 5.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Price Performance

SYK opened at $383.91 on Tuesday. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. 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 company’s 50 day simple moving average is $375.51 and its 200-day simple moving average is $359.17. The stock has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95.

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 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal 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 issued a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

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.