Sky Investment Group LLC Purchases 85 Shares of Stryker Co. (NYSE:SYK)

Sky Investment Group LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,204 shares of the medical technology company’s stock after buying an additional 85 shares during the quarter. Sky Investment Group LLC’s holdings in Stryker were worth $5,474,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC grew its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its holdings in 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 acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter worth about $36,000. Hara Capital LLC acquired a new position in shares of Stryker during the third quarter valued at about $42,000. Finally, HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value 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 approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on SYK shares. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Price Performance

Shares of NYSE SYK opened at $383.91 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap 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 one year low of $307.23 and a one year high of $398.20. The firm has a fifty day moving average of $375.51 and a 200 day moving average of $359.17.

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

Stryker Increases Dividend

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