InTrack Investment Management Inc Increases Stake in Stryker Co. (NYSE:SYK)

InTrack Investment Management Inc raised its stake in shares of Stryker Co. (NYSE:SYK) by 8.9% during the fourth quarter, HoldingsChannel reports. The firm owned 3,935 shares of the medical technology company’s stock after purchasing an additional 323 shares during the quarter. InTrack Investment Management Inc’s holdings in Stryker were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC raised its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR raised its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, Hara Capital LLC acquired a new position in Stryker in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $383.91 on Friday. 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 stock’s 50 day simple moving average is $375.35 and its 200-day simple moving average is $358.48. The company has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 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 announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid 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 is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Analysts Set New Price Targets

Several analysts have recently commented on SYK shares. Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

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.