Park Avenue Securities LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Park Avenue Securities LLC boosted its position in Stryker Co. (NYSE:SYK) by 25.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,613 shares of the medical technology company’s stock after purchasing an additional 2,142 shares during the quarter. Park Avenue Securities LLC’s holdings in Stryker were worth $3,821,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR lifted its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker during the third quarter worth approximately $36,000. Hara Capital LLC acquired a new stake in shares of Stryker in the third quarter worth $42,000. Finally, HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK stock opened at $381.32 on Friday. The stock’s 50 day simple moving average is $375.12 and its 200 day simple moving average is $358.32. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The firm has a market cap of $145.36 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.51 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 issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $2.46 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently announced 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. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYK. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial boosted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company increased their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction 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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.