Masso Torrence Wealth Management Inc. Buys Shares of 2,427 Stryker Co. (NYSE:SYK)

Masso Torrence Wealth Management Inc. purchased a new position in shares of Stryker Co. (NYSE:SYK) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,427 shares of the medical technology company’s stock, valued at approximately $874,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC raised its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR increased its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised shares of 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 research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $412.55.

Stryker Stock Down 0.7 %

Shares of NYSE:SYK opened at $392.25 on Wednesday. The company has a market capitalization of $149.53 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a 50 day moving average of $376.44 and a two-hundred day moving average of $361.98. Stryker Co. has a 52-week low of $314.05 and a 52-week high of $406.19. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same quarter last year, the business posted $3.46 earnings per share. As a group, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

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.