Stryker Co. (NYSE:SYK) Shares Bought by Albion Financial Group UT

Albion Financial Group UT lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 112.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 638 shares of the medical technology company’s stock after purchasing an additional 338 shares during the quarter. Albion Financial Group UT’s holdings in Stryker were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dunhill Financial LLC grew 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 valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR grew 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 valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. Hara Capital LLC purchased a new position in Stryker during the third quarter worth approximately $42,000. Finally, HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK stock opened at $395.86 on Wednesday. The firm has a market cap of $150.91 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.63 and a beta of 0.95. The stock’s 50 day simple moving average is $375.78 and its 200 day simple moving average is $359.94. 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 Co. has a 12-month low of $307.23 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating 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 net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently declared 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 is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SYK. Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $405.80.

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.