Stryker Co. (NYSE:SYK) Position Lifted by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. raised its stake in Stryker Co. (NYSE:SYK) by 50.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,733 shares of the medical technology company’s stock after purchasing an additional 2,914 shares during the period. Stryker accounts for approximately 0.6% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 29th biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Stryker were worth $3,145,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SYK. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the third 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 in the last quarter. Centennial Bank AR raised its position 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 valued at $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the third quarter worth $42,000. Finally, Hara Capital LLC bought a new stake in Stryker during the third quarter valued at $42,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

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 sale, the chief executive officer now owns 100,027 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $362.68 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 business’s 50-day moving average price is $375.13 and its 200 day moving average price is $358.25. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The firm has a market cap of $138.26 billion, a P/E ratio of 38.87, a PEG ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is 36.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SYK shares. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $405.80.

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.