Pure Financial Advisors LLC Buys 426 Shares of Stryker Co. (NYSE:SYK)

Pure Financial Advisors LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 67.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,055 shares of the medical technology company’s stock after buying an additional 426 shares during the quarter. Pure Financial Advisors LLC’s holdings in Stryker were worth $380,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC acquired a new position in Stryker in the 4th quarter worth about $204,000. Addenda Capital Inc. grew its holdings in shares of Stryker by 0.9% during the fourth quarter. Addenda Capital Inc. now owns 18,914 shares of the medical technology company’s stock worth $6,823,000 after purchasing an additional 160 shares during the last quarter. Sky Investment Group LLC increased its stake in shares of Stryker by 0.6% in the fourth quarter. Sky Investment Group LLC now owns 15,204 shares of the medical technology company’s stock valued at $5,474,000 after buying an additional 85 shares during the period. Union Savings Bank boosted its position in Stryker by 1.0% during the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after buying an additional 31 shares during the period. Finally, Zhang Financial LLC grew its holdings in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYK. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Up 3.2 %

Shares of NYSE:SYK opened at $395.86 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The business’s 50 day simple moving average is $375.61 and its two-hundred day simple moving average is $359.53. The firm has a market cap of $150.91 billion, a P/E ratio of 42.43, 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 analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast 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. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.

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.