ERn Financial LLC Boosts Position in Stryker Co. (NYSE:SYK)

ERn Financial LLC raised its stake in Stryker Co. (NYSE:SYK) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,984 shares of the medical technology company’s stock after acquiring an additional 94 shares during the period. ERn Financial LLC’s holdings in Stryker were worth $1,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased 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 buying an additional 37 shares during the period. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $36,000. Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter valued at $42,000. Finally, HBW Advisory Services LLC acquired a new stake in Stryker during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYK. Wells Fargo & Company upped their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial increased their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Citigroup boosted their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Evercore ISI boosted 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

NYSE SYK opened at $368.09 on Thursday. The business has a 50 day moving average price of $375.13 and a 200 day moving average price of $358.25. The company has a market capitalization of $140.32 billion, a P/E ratio of 39.45, a PEG ratio of 2.51 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last released its quarterly earnings results 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. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 EPS. Sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

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.