Clark & Stuart Inc Buys New Position in Stryker Co. (NYSE:SYK)

Clark & Stuart Inc purchased a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,821 shares of the medical technology company’s stock, valued at approximately $5,348,000. Stryker accounts for about 3.9% of Clark & Stuart Inc’s portfolio, making the stock its 9th largest position.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Dunhill Financial LLC raised its holdings 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 purchasing an additional 37 shares during the period. Centennial Bank AR increased its position 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 buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the third quarter worth about $36,000. Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 0.5 %

SYK opened at $366.04 on Monday. Stryker Co. has a 12 month low of $306.10 and a 12 month high of $398.20. The stock has a fifty day moving average price of $375.40 and a 200-day moving average price of $357.95. The firm has a market cap of $139.54 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.82 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.