Chesapeake Wealth Management Acquires 85 Shares of Stryker Co. (NYSE:SYK)

Chesapeake Wealth Management boosted its position in Stryker Co. (NYSE:SYK) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,027 shares of the medical technology company’s stock after purchasing an additional 85 shares during the period. Chesapeake Wealth Management’s holdings in Stryker were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Reliant Investment Management LLC grew its holdings in shares of Stryker by 3.7% during the fourth quarter. Reliant Investment Management LLC now owns 15,767 shares of the medical technology company’s stock valued at $5,677,000 after buying an additional 567 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Stryker by 18.8% during the 4th quarter. Ballentine Partners LLC now owns 8,368 shares of the medical technology company’s stock worth $3,013,000 after purchasing an additional 1,327 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in Stryker by 6.3% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 930 shares of the medical technology company’s stock valued at $335,000 after acquiring an additional 55 shares in the last quarter. Pure Financial Advisors LLC grew its stake in shares of Stryker by 67.7% in the 4th quarter. Pure Financial Advisors LLC now owns 1,055 shares of the medical technology company’s stock valued at $380,000 after buying an additional 426 shares during the period. Finally, Regent Peak Wealth Advisors LLC purchased a new position in shares of Stryker during the 4th quarter worth approximately $204,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Evercore ISI increased their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

NYSE SYK opened at $383.91 on Tuesday. The company has a fifty day simple moving average of $375.51 and a 200 day simple moving average of $359.17. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. 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 company has a market cap of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last issued 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 business had revenue of $5.49 billion during 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%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 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.