Harbour Capital Advisors LLC Buys 1,093 Shares of Stryker Co. (NYSE:SYK)

Harbour Capital Advisors LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 179.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,703 shares of the medical technology company’s stock after buying an additional 1,093 shares during the period. Harbour Capital Advisors LLC’s holdings in Stryker were worth $616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Main Street Financial Solutions LLC boosted its stake in Stryker by 19.8% during the second quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company’s stock valued at $241,000 after buying an additional 117 shares during the period. Federated Hermes Inc. raised its stake in Stryker by 16.2% in the second quarter. Federated Hermes Inc. now owns 113,916 shares of the medical technology company’s stock valued at $38,760,000 after purchasing an additional 15,882 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in Stryker during the second quarter valued at approximately $241,000. Parallel Advisors LLC grew its stake in Stryker by 2.0% in the 2nd quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company’s stock worth $5,209,000 after buying an additional 300 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Stryker by 11.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company’s stock worth $12,005,000 after buying an additional 3,765 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Down 0.8 %

SYK traded down $2.89 during midday trading on Monday, reaching $362.77. The company’s stock had a trading volume of 717,706 shares, compared to its average volume of 1,197,129. The stock’s 50-day moving average is $375.40 and its 200-day moving average is $357.95. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The firm has a market capitalization of $138.29 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.82 and a beta of 0.95. 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 (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company 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 dividend of $0.84 per share. 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%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Activity

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 shares were 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 of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.