Everence Capital Management Inc. Raises Stake in Stryker Co. (NYSE:SYK)

Everence Capital Management Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,570 shares of the medical technology company’s stock after buying an additional 1,690 shares during the quarter. Everence Capital Management Inc.’s holdings in Stryker were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Avestar Capital LLC lifted its stake in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after acquiring an additional 32 shares in the last quarter. Grimes & Company Inc. boosted its holdings in Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after acquiring an additional 33 shares during the period. Sachetta LLC increased its stake in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the period. Finally, Moran Wealth Management LLC lifted its position in shares of Stryker by 0.4% during the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 transaction 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 $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYK shares. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Truist Financial lifted their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird upped their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

Shares of SYK stock traded up $2.47 during mid-day trading on Friday, hitting $361.19. 214,150 shares of the stock were exchanged, compared to its average volume of 522,114. Stryker Co. has a 12-month low of $292.96 and a 12-month high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $137.69 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 2.82 and a beta of 0.94. The stock’s fifty day simple moving average is $375.06 and its two-hundred day simple moving average is $356.96.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s 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.