Ballentine Partners LLC Acquires 1,327 Shares of Stryker Co. (NYSE:SYK)

Ballentine Partners LLC raised its holdings in Stryker Co. (NYSE:SYK) by 18.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,368 shares of the medical technology company’s stock after purchasing an additional 1,327 shares during the quarter. Ballentine Partners LLC’s holdings in Stryker were worth $3,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. ZWJ Investment Counsel Inc. grew its position in Stryker by 6.3% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 930 shares of the medical technology company’s stock worth $335,000 after buying an additional 55 shares in the last quarter. Pure Financial Advisors LLC lifted its position in shares of Stryker by 67.7% during the 4th quarter. Pure Financial Advisors LLC now owns 1,055 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 426 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Stryker during the 4th quarter worth $204,000. Addenda Capital Inc. increased its position in shares of Stryker by 0.9% in the fourth quarter. Addenda Capital Inc. now owns 18,914 shares of the medical technology company’s stock worth $6,823,000 after purchasing an additional 160 shares during the period. Finally, Sky Investment Group LLC raised its stake in Stryker by 0.6% in the fourth quarter. Sky Investment Group LLC now owns 15,204 shares of the medical technology company’s stock valued at $5,474,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYK. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $383.91 on Tuesday. The stock has a 50-day moving average of $375.51 and a 200-day moving average of $359.17. 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 stock has a market cap of $146.35 billion, a price-to-earnings 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.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business 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 revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

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

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.