Reliant Investment Management LLC Has $5.68 Million Position in Stryker Co. (NYSE:SYK)

Reliant Investment Management LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,767 shares of the medical technology company’s stock after buying an additional 567 shares during the quarter. Stryker comprises 2.5% of Reliant Investment Management LLC’s portfolio, making the stock its 17th biggest position. Reliant Investment Management LLC’s holdings in Stryker were worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SYK. Capital Planning LLC grew its position in shares of Stryker by 3.6% in the 4th quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. Alhambra Investment Management LLC grew its position in shares of Stryker by 1.5% in the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after purchasing an additional 29 shares during the period. Avestar Capital LLC grew its position in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after purchasing an additional 31 shares during the period. Union Savings Bank grew its position in shares of Stryker by 1.0% in the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock valued at $1,138,000 after purchasing an additional 31 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.6 %

SYK stock opened at $383.91 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $146.35 billion, a PE ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The business’s 50 day simple moving average is $375.51 and its 200 day simple moving average is $359.17.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. As a group, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Citigroup boosted their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.