Stonegate Investment Group LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Stonegate Investment Group LLC boosted its stake in Stryker Co. (NYSE:SYK) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,156 shares of the medical technology company’s stock after purchasing an additional 42 shares during the quarter. Stonegate Investment Group LLC’s holdings in Stryker were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Driehaus Capital Management LLC raised its stake in Stryker by 73.8% in the second quarter. Driehaus Capital Management LLC now owns 1,107 shares of the medical technology company’s stock worth $377,000 after buying an additional 470 shares in the last quarter. Ascent Group LLC raised its position in shares of Stryker by 4.4% in the 2nd quarter. Ascent Group LLC now owns 3,790 shares of the medical technology company’s stock worth $1,290,000 after acquiring an additional 159 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Stryker by 36.1% in the 2nd quarter. NewEdge Advisors LLC now owns 22,854 shares of the medical technology company’s stock valued at $7,776,000 after purchasing an additional 6,066 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Stryker by 19.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 47,704 shares of the medical technology company’s stock valued at $16,234,000 after purchasing an additional 7,879 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $170,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent research reports. Truist Financial raised their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $394.92 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $376.32 and a 200-day moving average price of $361.59. Stryker Co. has a 52 week low of $310.74 and a 52 week high of $406.19. The firm has a market capitalization of $150.55 billion, a PE ratio of 42.33, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 period in the prior year, the firm posted $3.46 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio is currently 36.01%.

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.