Tyche Wealth Partners LLC Makes New $417,000 Investment in Stryker Co. (NYSE:SYK)

Tyche Wealth Partners LLC bought a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,391 shares of the medical technology company’s stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HealthInvest Partners AB purchased a new position in Stryker in the 4th quarter worth $3,834,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Stryker by 103.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,707 shares of the medical technology company’s stock valued at $36,147,000 after purchasing an additional 61,438 shares during the period. Wealth Alliance grew its stake in Stryker by 3.4% during the 4th quarter. Wealth Alliance now owns 2,156 shares of the medical technology company’s stock worth $646,000 after buying an additional 71 shares during the last quarter. Octavia Wealth Advisors LLC lifted its stake in Stryker by 11.2% in the fourth quarter. Octavia Wealth Advisors LLC now owns 1,633 shares of the medical technology company’s stock valued at $490,000 after buying an additional 165 shares during the last quarter. Finally, Suncoast Equity Management boosted its holdings in shares of Stryker by 1.1% in the fourth quarter. Suncoast Equity Management now owns 120,886 shares of the medical technology company’s stock valued at $36,200,000 after acquiring an additional 1,267 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SYK shares. Wells Fargo & Company raised their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Evercore ISI upped their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Roth Mkm boosted their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, TD Cowen increased their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker Stock Performance

NYSE:SYK opened at $336.03 on Thursday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm’s 50 day moving average is $350.57 and its two-hundred day moving average is $312.03. The company has a market cap of $127.85 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.72 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.00 earnings per share. Analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is currently 38.79%.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Corporate insiders own 5.90% of the company’s stock.

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.